Clear Harbor Asset Management LLC Reduces Position in Micron Technology, Inc. (MU)

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Clear Harbor Asset Management LLC cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 7.9% during the 1st quarter, HoldingsChannel reports. The firm owned 94,098 shares of the semiconductor manufacturer’s stock after selling 8,050 shares during the period. Clear Harbor Asset Management LLC’s holdings in Micron Technology were worth $3,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC lifted its holdings in shares of Micron Technology by 49.9% during the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 235 shares in the last quarter. Kings Point Capital Management lifted its holdings in shares of Micron Technology by 21.8% during the fourth quarter. Kings Point Capital Management now owns 1,575 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 282 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of Micron Technology by 29.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,387 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 317 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Micron Technology by 1.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 26,666 shares of the semiconductor manufacturer’s stock valued at $846,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

In other news, SVP April S. Arnzen sold 21,182 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total value of $834,358.98. Following the completion of the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 14,486 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total value of $621,159.68. Following the transaction, the executive vice president now directly owns 150,236 shares of the company’s stock, valued at $6,442,119.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,878 shares of company stock valued at $2,293,223. Company insiders own 0.20% of the company’s stock.

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Micron Technology in a report on Thursday, March 21st. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research raised Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley downgraded Micron Technology from an “equal weight” rating to an “underweight” rating and set a $32.00 price target on the stock. in a report on Thursday, April 4th. Finally, Cowen downgraded Micron Technology from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.85.

MU traded up $0.25 during midday trading on Friday, reaching $43.40. The company had a trading volume of 15,844,084 shares, compared to its average volume of 32,046,992. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10. The stock has a market cap of $48.03 billion, a price-to-earnings ratio of 3.67, a PEG ratio of 1.05 and a beta of 1.87. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $64.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.82 billion. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.27 earnings per share for the current fiscal year.

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Micron Technology Company 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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Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

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