![]() ![]() ![]() Earnings are also expected to fall in 2020 by 23% further to $4.96 per share.īased on the current revenue and earnings estimates, perhaps Janus Henderson’s and Appaloosa’s sales during the fourth quarter where likely the prudent thing to do. The outlook for 2020 is expected to be even worse with revenue declining by an additional 5% to $22.6 billion. Currently, revenue for the company is seen declining 8% in 2019 to $23.7 billion, while earnings are expected to fall by 46% to $6.42 per share. The outlook for Micron is bleak, based upon analysts’ estimates. Overall, the total number of total 13F shares held by institutions remained relatively unchanged. Additionally, 26 funds closed out their positions, while 32 reduced their stakes. ![]() In total, 19 funds created new positions in the stock, while 42 added to their existing positions. The number of total 13F shares held by hedge funds fell by 6% to 97.3 million. Overall, hedge funds were a net seller of Micron during the fourth quarter. The firm dumped nearly 60% of its holdings, bringing the total shares held down to 3.6 million shares. was a big seller of Micron in the fourth quarter as well. Even with the massive reduction in its holdings, the stock is still by far the fund’s most significant position valued at $507 million. However, the company has indicated in past conference calls that it expects the prices for memory chips to rebound in the second half of 2019.ĭuring the fourth quarter, Appaloosa LP, which is run by the famous investor David Tepper, dumped nearly 20 million shares, reducing its stake to 16 million. Prices for DRAM, dynamic random-access memory chips used in everything from personal computers to wireless phones, have fallen sharply over the past several months. Part of the reason for the stocks improved performance in 2019 has come on the promise and hopes of an improving DRAM market. However, the equity saw some very notable investors significantly reduce their holdings in the fourth quarter of 2018. Thus far, 2019 has been a better year, with the stock rising by 32%. Micron Technology, Inc.’s ( MU) stock plunged by roughly 50% from its May 2018 high of roughly $62 to a December low of $29. ![]()
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