Clear Harbor Asset Management LLC Sells 556 Shares of Micron Technology, Inc. (NASDAQ:MU)

Clear Harbor Asset Management LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,609 shares of the semiconductor manufacturer’s stock after selling 556 shares during the period. Clear Harbor Asset Management LLC’s holdings in Micron Technology were worth $1,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Price T Rowe Associates Inc. MD raised its position in shares of Micron Technology by 411.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after purchasing an additional 12,286,893 shares during the period. Norges Bank purchased a new position in Micron Technology during the fourth quarter valued at $581,559,000. FMR LLC grew its stake in Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Morgan Stanley grew its stake in Micron Technology by 59.2% during the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock valued at $709,006,000 after acquiring an additional 5,274,984 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MU shares. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Bank of America lifted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Barclays lifted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Raymond James lifted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Evercore ISI lifted their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.69.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $82.13, for a total transaction of $574,910.00. Following the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $53,528,966.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 264,000 shares of company stock worth $26,368,640. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Down 1.1 %

Shares of NASDAQ:MU traded down $1.36 during trading hours on Thursday, hitting $117.89. The company’s stock had a trading volume of 21,018,062 shares, compared to its average volume of 18,961,887. The firm’s fifty day moving average price is $91.35 and its 200 day moving average price is $80.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 52 week low of $56.01 and a 52 week high of $122.46. The company has a market capitalization of $130.55 billion, a price-to-earnings ratio of -34.17 and a beta of 1.24.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm earned ($2.03) EPS. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. As a group, research analysts expect that Micron Technology, Inc. will post 0.01 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

About Micron Technology

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.