ClariVest Asset Management LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 27.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 422,271 shares of the semiconductor manufacturer’s stock after selling 158,459 shares during the quarter. ClariVest Asset Management LLC’s holdings in Micron Technology were worth $13,399,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MU. Lavaca Capital LLC bought a new position in Micron Technology during the fourth quarter valued at approximately $29,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $31,000. First Personal Financial Services bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $32,000. NuWave Investment Management LLC raised its position in shares of Micron Technology by 2,041.5% in the fourth quarter. NuWave Investment Management LLC now owns 1,135 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 1,082 shares during the period. Finally, Baystate Wealth Management LLC raised its position in shares of Micron Technology by 525.0% in the fourth quarter. Baystate Wealth Management LLC now owns 1,000 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 840 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Shares of MU stock opened at $38.58 on Monday. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $64.66. The firm has a market cap of $43.25 billion, a P/E ratio of 3.12, a P/E/G ratio of 0.79 and a beta of 1.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.07. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the previous year, the company earned $2.45 earnings per share. Analysts predict that Micron Technology, Inc. will post 7.7 EPS for the current year.

A number of equities analysts have recently commented on the stock. MKM Partners dropped their price target on shares of Micron Technology from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Piper Jaffray Companies dropped their price target on shares of Micron Technology to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 19th. Zacks Investment Research lowered shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Deutsche Bank dropped their price target on shares of Micron Technology from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Finally, Royal Bank of Canada reissued a “neutral” rating and issued a $40.00 price target on shares of Micron Technology in a research report on Tuesday, December 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.52.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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