Retirement Systems of Alabama lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,007 shares of the semiconductor manufacturer’s stock after selling 12,850 shares during the period. Retirement Systems of Alabama’s holdings in Micron Technology were worth $21,575,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in MU. Vanguard Group Inc raised its stake in Micron Technology by 1.4% in the third quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock worth $3,974,651,000 after buying an additional 1,176,989 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Micron Technology by 4,548.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after buying an additional 28,112,651 shares in the last quarter. Geode Capital Management LLC raised its stake in Micron Technology by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock worth $463,429,000 after buying an additional 229,817 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Micron Technology by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,570,069 shares of the semiconductor manufacturer’s stock worth $430,599,000 after buying an additional 115,976 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Micron Technology by 0.9% in the fourth quarter. Northern Trust Corp now owns 12,276,972 shares of the semiconductor manufacturer’s stock worth $389,548,000 after buying an additional 115,269 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.
In related news, SVP April S. Arnzen sold 21,182 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, the senior vice president now owns 86,992 shares in the company, valued at approximately $3,426,614.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 14,486 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $42.88, for a total transaction of $621,159.68. Following the transaction, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,878 shares of company stock worth $2,293,223. 0.20% of the stock is owned by corporate insiders.
NASDAQ:MU opened at $42.76 on Wednesday. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.25. The firm has a market capitalization of $46.28 billion, a price-to-earnings ratio of 3.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.87.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The firm’s revenue was down 20.6% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.27 earnings per share for the current year.
A number of brokerages have recently issued reports on MU. Zacks Investment Research raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Nomura began coverage on Micron Technology in a research report on Tuesday. They set a “neutral” rating and a $45.00 price target on the stock. UBS Group upped their price target on Micron Technology to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Morgan Stanley downgraded Micron Technology from an “equal weight” rating to an “underweight” rating and set a $32.00 price target on the stock. in a research report on Thursday, April 4th. Finally, Mizuho reduced their price target on Micron Technology from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.85.
Micron Technology Company Profile
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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