Clear Creek Financial Management LLC Has $2.45 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Clear Creek Financial Management LLC grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,162 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,037 shares during the period. Clear Creek Financial Management LLC’s holdings in Micron Technology were worth $2,454,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Factory Mutual Insurance Co. raised its holdings in shares of Micron Technology by 53.6% during the fourth quarter. Factory Mutual Insurance Co. now owns 131,745 shares of the semiconductor manufacturer’s stock worth $11,088,000 after acquiring an additional 46,000 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $215,000. Caprock Group LLC raised its position in Micron Technology by 9.6% during the fourth quarter. Caprock Group LLC now owns 39,075 shares of the semiconductor manufacturer’s stock valued at $3,293,000 after acquiring an additional 3,422 shares in the last quarter. Cibc World Market Inc. grew its position in Micron Technology by 23.7% in the fourth quarter. Cibc World Market Inc. now owns 389,260 shares of the semiconductor manufacturer’s stock worth $32,760,000 after acquiring an additional 74,522 shares in the last quarter. Finally, EMC Capital Management acquired a new position in Micron Technology during the fourth quarter worth $194,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on MU shares. Morgan Stanley lowered their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reduced their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Down 1.4 %

Micron Technology stock opened at $91.24 on Friday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The firm has a market capitalization of $101.66 billion, a price-to-earnings ratio of 26.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s 50 day simple moving average is $97.65 and its 200 day simple moving average is $100.35.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) EPS. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is presently 13.26%.

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.