Clear Harbor Asset Management LLC Acquires 325 Shares of Micron Technology, Inc. (NASDAQ:MU)

Clear Harbor Asset Management LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,636 shares of the semiconductor manufacturer’s stock after purchasing an additional 325 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Micron Technology were worth $1,737,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MU. Stonebrook Private Inc. lifted its position in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the period. John G Ullman & Associates Inc. raised its stake in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares during the period. Trust Co. of Vermont boosted its position in Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

NASDAQ MU opened at $105.75 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business’s fifty day moving average is $97.87 and its 200 day moving average is $102.02. The company has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MU. UBS Group dropped their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Needham & Company LLC reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. KeyCorp lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price on the stock. Finally, Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.