Clear Harbor Asset Management LLC Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Clear Harbor Asset Management LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,311 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,044 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Micron Technology were worth $2,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Micron Technology by 1.8% during the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors raised its holdings in shares of Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Capital International Investors lifted its position in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Micron Technology by 6.9% in the second quarter. Van ECK Associates Corp now owns 8,086,213 shares of the semiconductor manufacturer’s stock worth $1,063,580,000 after buying an additional 519,641 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Micron Technology Price Performance

Shares of MU stock opened at $107.91 on Friday. The business’s fifty day moving average is $99.22 and its 200 day moving average is $113.89. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $119.66 billion, a price-to-earnings ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) EPS. The company’s revenue was up 93.3% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Analyst Upgrades and Downgrades

MU has been the topic of several research reports. Citigroup decreased their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. KeyCorp decreased their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Rosenblatt Securities raised their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, TD Cowen boosted their target price on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Micron Technology 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.