As Micron Technology INC (MU) Stock Rose, Shellback Capital LP Upped Holding by $16.40 Million

May 17, 2018 - By Jimmy Baldridge

Micron Technology, Inc. (NASDAQ:MU) LogoInvestors sentiment decreased to 1.24 in 2017 Q4. Its down 0.13, from 1.37 in 2017Q3. It dropped, as 49 investors sold MU shares while 245 reduced holdings. 126 funds opened positions while 239 raised stakes. 883.15 million shares or 0.40% less from 886.67 million shares in 2017Q3 were reported. Com Natl Bank, a Missouri-based fund reported 24,459 shares. Cibc Asset Incorporated has 0.04% invested in Micron Technology, Inc. (NASDAQ:MU) for 145,687 shares. 375,715 are owned by Zurcher Kantonalbank (Zurich Cantonalbank). Salem Counselors reported 2,900 shares stake. Cognios Capital Ltd Liability reported 13,712 shares. Clinton Gp accumulated 46,157 shares. Jnba Advisors holds 0.01% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 888 shares. Usca Ria Limited Company has invested 0.1% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Riverhead Capital Ltd Liability owns 166,778 shares. Picton Mahoney Asset Mgmt accumulated 428,600 shares or 0.47% of the stock. National Bank & Trust Of Mellon Corp reported 14.01 million shares or 0.15% of all its holdings. Fdx owns 5,221 shares. Ahl Llp holds 93,574 shares. Fifth Third Bancorporation has invested 0.08% in Micron Technology, Inc. (NASDAQ:MU). Ledyard Retail Bank has 50 shares.

Since January 2, 2018, it had 0 insider buys, and 13 sales for $7.65 million activity. The insider JOHNSON MERCEDES sold $1.26 million. BAILEY ROBERT L had sold 3,000 shares worth $129,520 on Thursday, February 1. 14,360 shares were sold by Byrne Patrick J, worth $665,058. Shares for $2.17M were sold by Mondry Lawrence N. Deboer Scott J had sold 13,695 shares worth $768,439. ARNZEN APRIL S also sold $53,487 worth of Micron Technology, Inc. (NASDAQ:MU) shares.

Shellback Capital Lp increased its stake in Micron Technology Inc (MU) by 66.67% based on its latest 2017Q4 regulatory filing with the SEC. Shellback Capital Lp bought 400,000 shares as the company’s stock rose 18.77% while stock markets declined. The institutional investor held 1.00 million shares of the technology company at the end of 2017Q4, valued at $41.12 million, up from 600,000 at the end of the previous reported quarter. Shellback Capital Lp who had been investing in Micron Technology Inc for a number of months, seems to be bullish on the $64.27B market cap company. The stock decreased 1.91% or $1.08 during the last trading session, reaching $55.42. About 31.60 million shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since May 17, 2017 and is uptrending. It has outperformed by 70.65% the S&P500.

Shellback Capital Lp, which manages about $423.03M and $1.34B US Long portfolio, decreased its stake in Mgm Resorts International (NYSE:MGM) by 340,000 shares to 558,989 shares, valued at $18.67 million in 2017Q4, according to the filing. It also reduced its holding in Lauder Estee Cos Inc (NYSE:EL) by 138,800 shares in the quarter, leaving it with 135,000 shares, and cut its stake in Amazon Com Inc (NASDAQ:AMZN).

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Globenewswire.com which released: “Micron Technology to Present at Bernstein Strategic Decisions Conference 2018” on May 17, 2018, also Seekingalpha.com with their article: “The Market Is Doubtful Of Micron” published on May 10, 2018, Seekingalpha.com published: “Highlights from Appaloosa’s Q1” on May 15, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Investorplace.com and their article: “Wednesday’s Vital Data: Nvidia Corporation (NVDA), Micron Technology, Inc. (MU) and Tesla Inc. (TSLA)” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “Micron: The Catalyst Of The Year” with publication date: May 17, 2018.

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

Among 25 analysts covering Micron (NASDAQ:MU), 20 have Buy rating, 1 Sell and 4 Hold. Therefore 80% are positive. Micron had 54 analyst reports since November 27, 2017 according to SRatingsIntel. The firm has “Buy” rating by M Partners given on Thursday, December 14. The company was maintained on Monday, March 12 by Mizuho. Cowen & Co maintained the stock with “Buy” rating in Wednesday, December 20 report. Nomura upgraded Micron Technology, Inc. (NASDAQ:MU) rating on Monday, March 12. Nomura has “Buy” rating and $100.0 target. As per Monday, December 4, the company rating was maintained by Cowen & Co. Mizuho maintained the shares of MU in report on Wednesday, December 20 with “Buy” rating. The rating was maintained by Wells Fargo with “Buy” on Wednesday, December 20. Citigroup maintained Micron Technology, Inc. (NASDAQ:MU) on Wednesday, December 20 with “Buy” rating. KeyBanc Capital Markets maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, April 16 with “Buy” rating. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, December 20.

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

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