Clear Creek Financial Management LLC Has $2.71 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Clear Creek Financial Management LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,125 shares of the semiconductor manufacturer’s stock after buying an additional 949 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Micron Technology were worth $2,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norden Group LLC grew its holdings in Micron Technology by 43.4% in the 1st quarter. Norden Group LLC now owns 3,564 shares of the semiconductor manufacturer’s stock valued at $420,000 after buying an additional 1,078 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Micron Technology by 8.0% during the first quarter. Janney Montgomery Scott LLC now owns 109,138 shares of the semiconductor manufacturer’s stock worth $12,866,000 after acquiring an additional 8,065 shares during the period. Choreo LLC acquired a new stake in Micron Technology in the 1st quarter worth about $770,000. Nordea Investment Management AB boosted its holdings in Micron Technology by 68.3% in the 1st quarter. Nordea Investment Management AB now owns 140,731 shares of the semiconductor manufacturer’s stock valued at $16,653,000 after purchasing an additional 57,103 shares during the period. Finally, Haverford Trust Co acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $264,000. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. KeyCorp dropped their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Susquehanna reduced their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. Finally, Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale 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 NASDAQ:MU opened at $99.73 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a 52 week low of $69.75 and a 52 week high of $157.54. The firm has a market cap of $110.57 billion, a PE ratio of 146.66 and a beta of 1.18. The firm’s fifty day moving average is $98.94 and its 200-day moving average is $113.21.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. 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 previous year, the business earned ($1.21) EPS. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. Sell-side analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Micron Technology Company 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.