Sumitomo Mitsui Asset Management Company LTD Has Lowered Position in Micron Technology INC (MU) by $26.00 Million

September 8, 2018 - By Robert Shackelford

Micron Technology, Inc. (NASDAQ:MU) LogoInvestors sentiment decreased to 1.13 in 2018 Q1. Its down 0.11, from 1.24 in 2017Q4. It is negative, as 52 investors sold MU shares while 282 reduced holdings. 138 funds opened positions while 241 raised stakes. 846.69 million shares or 4.13% less from 883.15 million shares in 2017Q4 were reported. Caxton Associates LP has invested 0.33% in Micron Technology, Inc. (NASDAQ:MU). Assetmark has 0.1% invested in Micron Technology, Inc. (NASDAQ:MU) for 180,939 shares. National Bank Of Stockton reported 0.23% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Sensato Invsts Limited Liability Corporation holds 163,400 shares or 1.32% of its portfolio. Pictet Comml Bank & Tru Ltd accumulated 30,400 shares. First Personal Svcs invested in 4,800 shares. Meiji Yasuda Asset Management Ltd holds 36,723 shares. Alps Advsrs reported 74,048 shares. Advsr Asset invested in 0% or 1,775 shares. Wellington Mngmt Group Llp holds 28.34 million shares or 0.33% of its portfolio. M Holdg Secs stated it has 0.07% in Micron Technology, Inc. (NASDAQ:MU). Usa Finance Portformulas Corp has invested 1.09% in Micron Technology, Inc. (NASDAQ:MU). Moreover, Parallax Volatility Advisers LP has 0.3% invested in Micron Technology, Inc. (NASDAQ:MU). Eulav Asset Management invested in 0.3% or 120,000 shares. Vertex One Asset Mngmt invested in 5.62% or 600,200 shares.

Since March 15, 2018, it had 0 buys, and 11 sales for $13.69 million activity. 13,695 shares were sold by Deboer Scott J, worth $768,439. $665,058 worth of Micron Technology, Inc. (NASDAQ:MU) was sold by Byrne Patrick J. 3,000 shares were sold by BAILEY ROBERT L, worth $151,496. 532 shares were sold by ARNZEN APRIL S, worth $31,814. The insider Thorsen Steven L. JR sold 40,000 shares worth $2.20 million. JOHNSON MERCEDES sold 25,000 shares worth $1.26M.

Sumitomo Mitsui Asset Management Company Ltd decreased its stake in Micron Technology Inc (MU) by 10.93% based on its latest 2018Q1 regulatory filing with the SEC. Sumitomo Mitsui Asset Management Company Ltd sold 499,996 shares as the company’s stock rose 27.87% while stock markets declined. The institutional investor held 4.07M shares of the technology company at the end of 2018Q1, valued at $212.43M, down from 4.57M at the end of the previous reported quarter. Sumitomo Mitsui Asset Management Company Ltd who had been investing in Micron Technology Inc for a number of months, seems to be less bullish one the $52.03B market cap company. The stock increased 0.47% or $0.21 during the last trading session, reaching $44.86. About 42.30 million shares traded or 12.33% up from the average. Micron Technology, Inc. (NASDAQ:MU) has risen 108.46% since September 8, 2017 and is uptrending. It has outperformed by 95.89% the S&P500.

Sumitomo Mitsui Asset Management Company Ltd, which manages about $6.76 billion US Long portfolio, upped its stake in Snap Inc by 1.50M shares to 5.56 million shares, valued at $88.19M in 2018Q1, according to the filing. It also increased its holding in Avalonbay Cmntys Inc (NYSE:AVB) by 61,783 shares in the quarter, for a total of 79,961 shares, and has risen its stake in Welltower Inc.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on September, 20 after the close. They expect $3.26 EPS, up 63.82 % or $1.27 from last year’s $1.99 per share. MU’s profit will be $3.78B for 3.44 P/E if the $3.26 EPS becomes a reality. After $3.12 actual EPS reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 4.49 % EPS growth.

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Nasdaq.com which released: “Can Semiconductor Stocks Avert This Disaster?” on September 08, 2018, also Seekingalpha.com with their article: “Semi stocks limp towards the weekend” published on September 07, 2018, Nasdaq.com published: “Friday’s Vital Data: Advanced Micro Devices, Micron Technology and Twitter” on September 07, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Seekingalpha.com and their article: “Micron Looks Massively Mispriced” published on August 28, 2018 as well as Seekingalpha.com‘s news article titled: “Wells Fargo lowers Micron target, ups Nvidia” with publication date: August 15, 2018.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Among 24 analysts covering Micron (NASDAQ:MU), 18 have Buy rating, 0 Sell and 6 Hold. Therefore 75% are positive. Micron had 45 analyst reports since March 12, 2018 according to SRatingsIntel. The firm has “Buy” rating by Morgan Stanley given on Thursday, May 10. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Monday, March 12 by Mizuho. As per Friday, June 1, the company rating was maintained by Mizuho. The firm has “Hold” rating given on Thursday, May 31 by Morgan Stanley. The stock has “Buy” rating by M Partners on Monday, March 26. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Overweight” rating given on Tuesday, May 22 by JP Morgan. The firm earned “Outperform” rating on Thursday, June 21 by Cowen & Co. The rating was downgraded by Citigroup to “Hold” on Friday, March 23. The rating was maintained by KeyBanc Capital Markets on Tuesday, May 22 with “Buy”. Cowen & Co maintained the stock with “Buy” rating in Thursday, March 22 report.

Micron Technology, Inc. (NASDAQ:MU) Institutional Positions Chart

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