1,899 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Clearwater Capital Advisors LLC

Clearwater Capital Advisors LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,899 shares of the semiconductor manufacturer’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also made changes to their positions in MU. Norges Bank acquired a new stake in shares of Micron Technology in the 4th quarter worth about $769,372,000. California Public Employees Retirement System boosted its position in shares of Micron Technology by 125.0% during the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Micron Technology by 28.9% during the 1st quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after purchasing an additional 1,695,876 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Micron Technology in the fourth quarter worth about $137,941,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Micron Technology in the first quarter worth about $101,233,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Down 1.7 %

Shares of MU traded down $2.05 on Thursday, reaching $117.45. The stock had a trading volume of 30,379,379 shares, compared to its average volume of 20,995,096. The firm has a market capitalization of $130.23 billion, a price-to-earnings ratio of -82.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a 50-day simple moving average of $132.59 and a 200-day simple moving average of $110.66. Micron Technology, Inc. has a 12-month low of $61.75 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.57) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.39%. Micron Technology’s payout ratio is currently -32.39%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at $30,981,985.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,730 shares of company stock worth $30,218,549. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MU. Stifel Nicolaus boosted their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Barclays upped their target price on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Wolfe Research upped their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Susquehanna increased their price target on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $158.72.

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.