Clearline Capital LP acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,672 shares of the semiconductor manufacturer’s stock, valued at approximately $2,043,000. Micron Technology makes up 1.1% of Clearline Capital LP’s investment portfolio, making the stock its 24th biggest position.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Micron Technology by 4.4% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,256 shares of the semiconductor manufacturer’s stock worth $3,635,000 after acquiring an additional 3,696 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Micron Technology in the 4th quarter worth about $549,000. G&S Capital LLC bought a new position in shares of Micron Technology in the 4th quarter worth about $366,000. Paloma Partners Management Co increased its stake in shares of Micron Technology by 6.0% in the 4th quarter. Paloma Partners Management Co now owns 55,581 shares of the semiconductor manufacturer’s stock worth $2,285,000 after acquiring an additional 3,162 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new position in shares of Micron Technology in the 4th quarter worth about $740,000. Institutional investors and hedge funds own 82.51% of the company’s stock.
Shares of Micron Technology, Inc. (MU) opened at $59.37 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The stock has a market cap of $68,650.00, a PE ratio of 9.35, a PEG ratio of 0.53 and a beta of 1.45. Micron Technology, Inc. has a 1-year low of $24.93 and a 1-year high of $61.17.
Several research analysts recently issued reports on the stock. Vetr lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price target for the company. in a research note on Friday, November 17th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Needham & Company LLC reissued a “buy” rating and set a $76.00 price objective on shares of Micron Technology in a research report on Wednesday, December 20th. Nomura increased their price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Monday. Finally, MKM Partners increased their price objective on shares of Micron Technology from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $57.50.
In related news, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the transaction, the senior vice president now owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the transaction, the senior vice president now directly owns 202,486 shares in the company, valued at approximately $8,585,406.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,692 shares of company stock worth $7,493,827. Insiders own 0.53% of the company’s stock.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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