Cloverfields Capital Group LP Has $4.48 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Cloverfields Capital Group LP grew its position in Micron Technology, Inc. (NASDAQ:MUFree Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,487 shares of the semiconductor manufacturer’s stock after purchasing an additional 458 shares during the period. Micron Technology comprises about 1.8% of Cloverfields Capital Group LP’s portfolio, making the stock its 21st largest position. Cloverfields Capital Group LP’s holdings in Micron Technology were worth $4,479,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares in the last quarter. L2 Asset Management LLC increased its position in shares of Micron Technology by 492.3% during the third quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock worth $1,799,000 after acquiring an additional 21,979 shares in the last quarter. Invesco Ltd. increased its position in shares of Micron Technology by 11.8% during the third quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares in the last quarter. Merlin Capital Inc bought a new stake in shares of Micron Technology during the third quarter worth $407,000. Finally, TCW Group Inc. increased its position in shares of Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after acquiring an additional 28,649 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

MU stock traded down $1.29 during mid-day trading on Friday, hitting $125.00. The stock had a trading volume of 24,153,782 shares, compared to its average volume of 14,012,557. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a fifty day simple moving average of $120.87 and a 200 day simple moving average of $97.58. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $133.30.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.03) EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $95,015,134.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the transaction, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $132.14, for a total transaction of $924,980.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $95,015,134.86. The disclosure for this sale can be found here. Insiders have sold 417,446 shares of company stock valued at $48,482,523 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MU. Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. 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 report on Thursday, March 21st. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Bank of America increased their price target on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Mizuho increased their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $127.12.

Check Out Our Latest Stock Analysis on Micron Technology

About Micron Technology

(Free Report)

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.

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

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