Pictet North America Advisors Sa Has Cut Micron Technology (MU) Holding by $708,890; Shares Rose; Intersect Capital Has Upped Position in Cummins (CMI) as Share Value Declined

April 22, 2018 - By Marguerite Chambers

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Pictet North America Advisors Sa decreased its stake in Micron Technology Inc (MU) by 49.58% based on its latest 2017Q4 regulatory filing with the SEC. Pictet North America Advisors Sa sold 17,290 shares as the company’s stock rose 18.77% while stock markets declined. The institutional investor held 17,580 shares of the technology company at the end of 2017Q4, valued at $723,000, down from 34,870 at the end of the previous reported quarter. Pictet North America Advisors Sa who had been investing in Micron Technology Inc for a number of months, seems to be less bullish one the $58.71B market cap company. The stock decreased 1.56% or $0.8 during the last trading session, reaching $50.62. About 38.51M shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since April 22, 2017 and is uptrending. It has outperformed by 70.65% the S&P500.

Intersect Capital Llc increased its stake in Cummins Inc (CMI) by 85.44% based on its latest 2017Q4 regulatory filing with the SEC. Intersect Capital Llc bought 4,837 shares as the company’s stock declined 9.68% with the market. The institutional investor held 10,498 shares of the industrial machinery and components company at the end of 2017Q4, valued at $1.85 million, up from 5,661 at the end of the previous reported quarter. Intersect Capital Llc who had been investing in Cummins Inc for a number of months, seems to be bullish on the $27.78 billion market cap company. The stock decreased 0.44% or $0.75 during the last trading session, reaching $168.77. About 825,674 shares traded. Cummins Inc. (NYSE:CMI) has risen 6.07% since April 22, 2017 and is uptrending. It has underperformed by 5.48% the S&P500.

Pictet North America Advisors Sa, which manages about $2.65 billion and $650.89 million US Long portfolio, upped its stake in Powershares Qqq Trust (QQQ) by 150,000 shares to 168,895 shares, valued at $26.31 million in 2017Q4, according to the filing. It also increased its holding in Ishares Inc (EWA) by 79,716 shares in the quarter, for a total of 972,994 shares, and has risen its stake in Oracle Corp (NYSE:ORCL).

Among 42 analysts covering Micron Technology Inc. (NASDAQ:MU), 34 have Buy rating, 1 Sell and 7 Hold. Therefore 81% are positive. Micron Technology Inc. had 238 analyst reports since July 29, 2015 according to SRatingsIntel. Wells Fargo maintained Micron Technology, Inc. (NASDAQ:MU) on Wednesday, January 31 with “Buy” rating. The rating was maintained by Goldman Sachs with “Buy” on Tuesday, March 6. Pacific Crest reinitiated the stock with “Sector Weight” rating in Tuesday, April 19 report. The firm has “Buy” rating given on Friday, March 23 by Stifel Nicolaus. Loop Capital maintained the stock with “Buy” rating in Friday, October 13 report. Loop Capital maintained the shares of MU in report on Thursday, September 21 with “Buy” rating. The stock has “Buy” rating by Goldman Sachs on Wednesday, September 13. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Citigroup on Tuesday, July 11. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Outperform” rating given on Wednesday, December 23 by Cowen & Co. Morgan Stanley maintained Micron Technology, Inc. (NASDAQ:MU) rating on Tuesday, September 5. Morgan Stanley has “Buy” rating and $36.0 target.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on July, 5. They expect $2.81 EPS, up 100.71% or $1.41 from last year’s $1.4 per share. MU’s profit will be $3.26 billion for 4.50 P/E if the $2.81 EPS becomes a reality. After $2.80 actual EPS reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 0.36% EPS growth.

Investors sentiment decreased to 1.24 in Q4 2017. 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. Private Ocean Ltd Liability holds 1,521 shares or 0.04% of its portfolio. Sumitomo Mitsui Asset Management Communications Limited accumulated 4.57M shares. Arvest Savings Bank Trust Division reported 1.85% in Micron Technology, Inc. (NASDAQ:MU). 93,574 are owned by Ahl Ptnrs Llp. 619 were accumulated by Gradient Investments Ltd Com. Keybank National Association Oh invested in 21,149 shares or 0% of the stock. 23,188 were accumulated by Old Mutual Customised Solutions (Proprietary) Ltd. Graham Cap Mngmt Limited Partnership has 0.02% invested in Micron Technology, Inc. (NASDAQ:MU). Bancorp Of Nova Scotia reported 0.43% in Micron Technology, Inc. (NASDAQ:MU). Jabre Capital Prtn reported 7,000 shares or 0.06% of all its holdings. Mitsubishi Ufj Holdg Limited reported 9,810 shares. Thompson Siegel Walmsley Lc invested in 63,480 shares. Hanseatic Mngmt owns 24,616 shares. Marshall Wace Llp has 0.23% invested in Micron Technology, Inc. (NASDAQ:MU) for 134,629 shares. Pacad Investment Ltd holds 2.8% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 300,151 shares.

Since January 2, 2018, it had 0 insider purchases, and 10 insider sales for $5.48 million activity. ARNZEN APRIL S had sold 1,222 shares worth $53,487. 13,695 shares valued at $768,439 were sold by Deboer Scott J on Monday, March 26. The insider Mondry Lawrence N sold $2.17M. Shares for $1.26M were sold by JOHNSON MERCEDES on Monday, April 2.

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

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