Somerset Trust Company Has Raised Graco (GGG) Position; As Micron Technology (MU) Shares Rose, Tegean Capital Management Has Trimmed Its Stake

June 16, 2018 - By Kurt Siggers

Graco Inc. (NYSE:GGG) Logo

Thomas G. Maheras decreased its stake in Micron Technology Inc (MU) by 10% based on its latest 2018Q1 regulatory filing with the SEC. Tegean Capital Management Llc sold 25,000 shares as the company’s stock rose 27.87% while stock markets declined. The hedge fund run by Thomas G. Maheras held 225,000 shares of the technology company at the end of 2018Q1, valued at $11.73 million, down from 250,000 at the end of the previous reported quarter. Tegean Capital Management Llc who had been investing in Micron Technology Inc for a number of months, seems to be less bullish one the $67.53B market cap company. The stock decreased 1.61% or $0.95 during the last trading session, reaching $58.23. About 41.76M shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 108.46% since June 16, 2017 and is uptrending. It has outperformed by 95.89% the S&P500. Some Historical MU News: 21/04/2018 – DJ Micron Solutions Inc, Inst Holders, 1Q 2018 (MICR); 22/03/2018 – Micron Technology 2Q Net $3.31B; 21/05/2018 – MU SEES 3Q ADJ. REV. $7.7B-$7.8B, SAW $7.2B-$7.6B, EST.$7.47B; 19/04/2018 – 3D Non-Volatile Memory Patent Landscape Analysis 2018 Featuring SanDisk/Western Digital, Micron Technology, SK Hynix, Toshiba, Samsung & Macronix International – ResearchAndMarkets.com; 12/03/2018 – MICRON NAMES RAJ TALLURI AS SVP, GENERAL MANAGER OF MOBILE; 11/05/2018 – HOSOKAWA MICRON 6277.T 6-MTH GROUP NET PROFIT 1.93 BLN YEN (+18.1 %), 2017/18 FORECAST PROFIT 3.60 BLN YEN (+0.8 %); 21/05/2018 – Micron Ships Industry’s First Quad-Level Cell NAND SSD; 25/05/2018 – MU: $MU – China to investigate DRAM manufacturers – ! $MU; 02/04/2018 – Micron reported better than expected results on Thursday; 22/05/2018 – Cramer also hears from the CEOs of Rent the Runway, Union Pacific and Micron

Somerset Trust Company increased its stake in Graco Inc (GGG) by 200.34% based on its latest 2018Q1 regulatory filing with the SEC. Somerset Trust Company bought 9,372 shares as the company’s stock rose 1.26% while stock markets declined. The institutional investor held 14,050 shares of the fluid controls company at the end of 2018Q1, valued at $642,000, up from 4,678 at the end of the previous reported quarter. Somerset Trust Company who had been investing in Graco Inc for a number of months, seems to be bullish on the $7.79 billion market cap company. The stock decreased 0.19% or $0.09 during the last trading session, reaching $46.45. About 1.16 million shares traded or 87.18% up from the average. Graco Inc. (NYSE:GGG) has risen 25.70% since June 16, 2017 and is uptrending. It has outperformed by 13.13% the S&P500. Some Historical GGG News: 17/04/2018 – DEEP ECO: Graco May Face Pressure, Machinery Down This Quarter; 21/04/2018 – DJ Graco Inc, Inst Holders, 1Q 2018 (GGG); 25/04/2018 – GRACO SEES MID-TO-HIGH SINGLE-DIGIT ORGANIC SALES RISE FOR YEAR; 25/04/2018 – GRACO INC QTRLY ADJ SHR $0.48; 25/04/2018 – Graco 1Q EPS 49c; 28/03/2018 – Graco Launches Rugged EM Series Electronic Meters; 27/03/2018 – Graco Unveils Powerful Electric Fireproofing Pump; 14/05/2018 – Graco at Group Meeting Hosted By Seaport Today; 25/04/2018 – Graco Reports Record Sales and Operating Earnings; 17/04/2018 – Graco Announces Husky & SaniForce 2150e Electrically-Operated Double Diaphragm Pump Lines

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Seekingalpha.com which released: “XP Dreams: Intel And Micron Diverge” on May 30, 2018, also Seekingalpha.com with their article: “Micron -2.6% on Morgan Stanley downgrade” published on May 31, 2018, Seekingalpha.com published: “Micron: Pessimism Is An Opportunity” on June 06, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Seekingalpha.com and their article: “Is Micron A Solid Pick At $55?” published on May 22, 2018 as well as Seekingalpha.com‘s news article titled: “Micron Technology: 2018 Target Prices” with publication date: June 13, 2018.

Since January 2, 2018, it had 0 buys, and 15 insider sales for $9.36 million activity. 532 shares were sold by ARNZEN APRIL S, worth $31,814 on Thursday, March 15. Shares for $638,380 were sold by Deboer Scott J. BAILEY ROBERT L had sold 3,000 shares worth $151,496. On Wednesday, February 14 Mondry Lawrence N sold $2.17M worth of Micron Technology, Inc. (NASDAQ:MU) or 50,000 shares. 14,360 shares valued at $665,058 were sold by Byrne Patrick J on Wednesday, May 2. Another trade for 25,000 shares valued at $1.26 million was sold by JOHNSON MERCEDES.

Tegean Capital Management Llc, which manages about $366.79M and $186.74M US Long portfolio, upped its stake in Tcf Finl Corp (NYSE:TCB) by 96,600 shares to 125,000 shares, valued at $2.85 million in 2018Q1, according to the filing. It also increased its holding in Assured Guaranty Ltd (NYSE:AGO) by 43,700 shares in the quarter, for a total of 526,200 shares, and has risen its stake in Huntington Bancshares Inc (NASDAQ:HBAN).

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on June, 20 after the close. They expect $3.10 EPS, up 121.43% or $1.70 from last year’s $1.4 per share. MU’s profit will be $3.60 billion for 4.70 P/E if the $3.10 EPS becomes a reality. After $2.80 actual EPS reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 10.71% EPS growth.

Investors sentiment decreased to 1.13 in 2018 Q1. Its down 0.11, from 1.24 in 2017Q4. It dropped, 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. Commerzbank Aktiengesellschaft Fi holds 0.46% or 793,358 shares in its portfolio. Cls Investments invested 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Kentucky Retirement holds 0.27% or 60,346 shares in its portfolio. Ellington Management Grp Limited Liability Company holds 47,500 shares. Creative Planning has invested 0.05% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Exane Derivatives owns 176 shares for 0% of their portfolio. Andra Ap accumulated 0.19% or 137,600 shares. Hillsdale Inv Management reported 0.07% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Qcm Cayman reported 9,064 shares. Highland Mgmt Ltd Partnership holds 0.54% or 200,000 shares. Polar Llp has invested 0.47% in Micron Technology, Inc. (NASDAQ:MU). Moreover, Element Cap Mngmt Ltd Liability has 0.04% invested in Micron Technology, Inc. (NASDAQ:MU) for 32,884 shares. Seminole Management reported 135,000 shares or 1.63% of all its holdings. Focused Wealth Management has invested 0.15% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Avalon Asset Mgmt Ltd Liability accumulated 203,560 shares or 3.66% of the stock.

Among 44 analysts covering Micron Technology Inc. (NASDAQ:MU), 34 have Buy rating, 1 Sell and 9 Hold. Therefore 77% are positive. Micron Technology Inc. had 251 analyst reports since July 29, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Friday, March 23 by Citigroup. The company was maintained on Thursday, May 10 by Morgan Stanley. The stock has “Sector Weight” rating by Pacific Crest on Tuesday, April 19. Nomura downgraded the shares of MU in report on Monday, March 7 to “Reduce” rating. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Mizuho on Tuesday, February 16. The rating was maintained by J.P. Morgan with “Buy” on Tuesday, May 30. Morgan Stanley maintained the stock with “Hold” rating in Wednesday, August 5 report. On Thursday, March 31 the stock rating was downgraded by Macquarie Research to “Neutral”. Cowen & Co maintained the shares of MU in report on Wednesday, February 21 with “Buy” rating. The firm earned “Neutral” rating on Friday, August 7 by Mizuho.

Investors sentiment decreased to 1.01 in Q1 2018. Its down 8.87, from 9.88 in 2017Q4. It turned negative, as 24 investors sold GGG shares while 131 reduced holdings. 56 funds opened positions while 101 raised stakes. 137.99 million shares or 50.52% less from 278.85 million shares in 2017Q4 were reported. Envestnet Asset Management has invested 0.01% in Graco Inc. (NYSE:GGG). Old Mutual Glob (Uk) Limited invested 0.45% of its portfolio in Graco Inc. (NYSE:GGG). Eaton Vance Management has invested 0% in Graco Inc. (NYSE:GGG). Employees Retirement Sys Of Texas has invested 0.04% in Graco Inc. (NYSE:GGG). The Michigan-based Plante Moran Advisors Lc has invested 0.06% in Graco Inc. (NYSE:GGG). Koch Indus holds 0.1% or 22,369 shares in its portfolio. Riverhead Capital Management Ltd Limited Liability Company holds 0.05% or 27,803 shares. Palisade Asset Mngmt Limited Liability Corp has invested 0.53% in Graco Inc. (NYSE:GGG). D E Shaw & Communication Incorporated stated it has 0% of its portfolio in Graco Inc. (NYSE:GGG). Bnp Paribas Arbitrage has invested 0% of its portfolio in Graco Inc. (NYSE:GGG). Pnc Fincl Svcs Grp Inc stated it has 0.01% in Graco Inc. (NYSE:GGG). Manufacturers Life Insurance The holds 0.01% in Graco Inc. (NYSE:GGG) or 271,431 shares. Victory Mngmt Inc holds 0.01% or 62,530 shares. Citadel Advsrs Limited Liability Com holds 0.01% or 483,320 shares. Bancorporation Of Mellon holds 0.03% or 2.45M shares.

Somerset Trust Company, which manages about $193.57M US Long portfolio, decreased its stake in Vanguard Index Fds Reit Etf (VNQ) by 7,808 shares to 747 shares, valued at $56,000 in 2018Q1, according to the filing.

Since January 4, 2018, it had 0 insider buys, and 7 sales for $19.39 million activity. 90,000 shares valued at $4.24M were sold by Johnson Jeffrey P. on Friday, May 18. The insider GALLIVAN KAREN PARK sold $1.31M. VAN SANT R WILLIAM sold $684,693 worth of stock or 15,000 shares. $10.01 million worth of Graco Inc. (NYSE:GGG) was sold by MCHALE PATRICK J on Monday, May 7. 26,625 Graco Inc. (NYSE:GGG) shares with value of $1.24 million were sold by CARROLL WILLIAM J.

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

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