As Micron Technology (MU) Stock Price Rose, Shareholder Point72 Asia Hong Kong LTD Lowered Its Stake; Envestnet Asset Management Has Cut Its Patterson Companies (PDCO) Stake as Shares Declined

February 21, 2018 - By Vivian Park

Steve Cohen decreased its stake in Micron Technology Inc (MU) by 56.23% based on its latest 2017Q3 regulatory filing with the SEC. Point72 Asia Hong Kong Ltd sold 68,100 shares as the company’s stock rose 19.14% with the market. The hedge fund run by Steve Cohen held 53,000 shares of the technology company at the end of 2017Q3, valued at $2.08M, down from 121,100 at the end of the previous reported quarter. Point72 Asia Hong Kong Ltd who had been investing in Micron Technology Inc for a number of months, seems to be less bullish one the $52.19 billion market cap company. The stock increased 0.52% or $0.233 during the last trading session, reaching $45.133. About 14.53 million shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 176.27% since February 21, 2017 and is uptrending. It has outperformed by 159.57% the S&P500.

Envestnet Asset Management Inc decreased its stake in Patterson Companies Inc (PDCO) by 72.03% based on its latest 2017Q3 regulatory filing with the SEC. Envestnet Asset Management Inc sold 30,228 shares as the company’s stock declined 2.93% while stock markets rallied. The institutional investor held 11,738 shares of the health care company at the end of 2017Q3, valued at $455,000, down from 41,966 at the end of the previous reported quarter. Envestnet Asset Management Inc who had been investing in Patterson Companies Inc for a number of months, seems to be less bullish one the $3.02B market cap company. The stock increased 3.16% or $1 during the last trading session, reaching $32.6. About 291,202 shares traded. Patterson Companies, Inc. (NASDAQ:PDCO) has declined 4.97% since February 21, 2017 and is downtrending. It has underperformed by 21.67% the S&P500.

Among 42 analysts covering Micron Technology Inc. (NASDAQ:MU), 36 have Buy rating, 0 Sell and 6 Hold. Therefore 86% are positive. Micron Technology Inc. had 214 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, September 21 by Loop Capital. The firm has “Neutral” rating by Robert W. Baird given on Thursday, August 20. On Thursday, July 27 the stock rating was maintained by BMO Capital Markets with “Hold”. The rating was maintained by Mizuho on Wednesday, December 20 with “Buy”. As per Monday, September 28, the company rating was maintained by Cowen & Co. Summit Redstone Partners maintained Micron Technology, Inc. (NASDAQ:MU) rating on Wednesday, October 11. Summit Redstone Partners has “Buy” rating and $51.0 target. On Friday, October 2 the stock rating was maintained by Deutsche Bank with “Buy”. The company was upgraded on Thursday, December 17 by Morgan Stanley. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Tuesday, August 16 by Brean Capital. KeyBanc Capital Markets maintained the stock with “Hold” rating in Monday, September 11 report.

Point72 Asia Hong Kong Ltd, which manages about $141.01 million US Long portfolio, upped its stake in Vantiv Inc (NYSE:VNTV) by 12,300 shares to 12,579 shares, valued at $886,000 in 2017Q3, according to the filing. It also increased its holding in Intuit (NASDAQ:INTU) by 3,046 shares in the quarter, for a total of 3,886 shares, and has risen its stake in Yum China Hldgs Inc.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on March, 22 after the close. They expect $2.69 earnings per share, up 249.35% or $1.92 from last year’s $0.77 per share. MU’s profit will be $3.11B for 4.19 P/E if the $2.69 EPS becomes a reality. After $2.41 actual earnings per share reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 11.62% EPS growth.

Investors sentiment increased to 1.37 in 2017 Q3. Its up 0.29, from 1.08 in 2017Q2. It is positive, as 52 investors sold MU shares while 205 reduced holdings. 114 funds opened positions while 237 raised stakes. 886.67 million shares or 6.47% more from 832.79 million shares in 2017Q2 were reported. Credit Cap Invs Limited Liability has invested 37.1% in Micron Technology, Inc. (NASDAQ:MU). Cibc World reported 0.01% in Micron Technology, Inc. (NASDAQ:MU). Alphaone Investment Limited Liability accumulated 235,100 shares or 2.46% of the stock. Cap One Association stated it has 0.04% in Micron Technology, Inc. (NASDAQ:MU). Davenport & Company Ltd Liability Company holds 0.01% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 12,366 shares. State Of New Jersey Common Pension Fund D owns 1.94 million shares. Tiedemann Wealth Mngmt Ltd Liability Com invested in 17,605 shares. Zwj Inv Counsel holds 600,487 shares or 1.84% of its portfolio. Meiji Yasuda Asset Mngmt Ltd owns 30,383 shares or 0.12% of their US portfolio. Alliancebernstein L P, New York-based fund reported 3.21 million shares. Dowling Yahnke Limited Liability accumulated 27,526 shares or 0.11% of the stock. Ci Invests has 2.73% invested in Micron Technology, Inc. (NASDAQ:MU). Fred Alger Management Inc accumulated 0.56% or 3.03 million shares. Cheyne Cap (Uk) Limited Liability Partnership has invested 0.34% in Micron Technology, Inc. (NASDAQ:MU). Jpmorgan Chase & stated it has 0.11% in Micron Technology, Inc. (NASDAQ:MU).

Since September 1, 2017, it had 0 buys, and 15 selling transactions for $14.83 million activity. Deboer Scott J also sold $701,730 worth of Micron Technology, Inc. (NASDAQ:MU) shares. 118,944 Micron Technology, Inc. (NASDAQ:MU) shares with value of $4.53M were sold by Thorsen Steven L. JR. The insider Mondry Lawrence N sold $2.17M. $53,487 worth of stock was sold by ARNZEN APRIL S on Thursday, February 15. Shares for $3.09M were sold by Poppen Joel L on Friday, September 29.

Envestnet Asset Management Inc, which manages about $60.39 billion and $41.79B US Long portfolio, upped its stake in Check Point Software Tech Lt (NASDAQ:CHKP) by 6,765 shares to 183,732 shares, valued at $20.95M in 2017Q3, according to the filing. It also increased its holding in Dbx Etf Tr (DBEF) by 31,783 shares in the quarter, for a total of 6.46M shares, and has risen its stake in Goldman Sachs Etf Tr.

Among 16 analysts covering Patterson Companies Inc. (NASDAQ:PDCO), 2 have Buy rating, 4 Sell and 10 Hold. Therefore 13% are positive. Patterson Companies Inc. had 35 analyst reports since August 28, 2015 according to SRatingsIntel. The stock has “Hold” rating by Jefferies on Wednesday, November 22. The firm has “Buy” rating given on Thursday, July 13 by Credit Suisse. The firm earned “Buy” rating on Wednesday, November 22 by Robert W. Baird. Robert W. Baird upgraded the shares of PDCO in report on Tuesday, January 3 to “Outperform” rating. As per Wednesday, January 6, the company rating was upgraded by Evercore. The firm has “Hold” rating by Evercore given on Friday, May 27. The stock of Patterson Companies, Inc. (NASDAQ:PDCO) earned “Sell” rating by Stifel Nicolaus on Thursday, July 6. The firm earned “Hold” rating on Tuesday, November 21 by Piper Jaffray. Robert W. Baird maintained the shares of PDCO in report on Monday, September 25 with “Buy” rating. The firm earned “Sell” rating on Wednesday, August 9 by Stifel Nicolaus.

Analysts await Patterson Companies, Inc. (NASDAQ:PDCO) to report earnings on March, 1 before the open. They expect $0.51 EPS, down 12.07% or $0.07 from last year’s $0.58 per share. PDCO’s profit will be $47.25M for 15.98 P/E if the $0.51 EPS becomes a reality. After $0.51 actual EPS reported by Patterson Companies, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Since October 11, 2017, it had 0 insider buys, and 2 insider sales for $54,833 activity.

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