Kentucky Retirement Systems Has $10.98 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Kentucky Retirement Systems lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,447 shares of the semiconductor manufacturer’s stock after selling 387 shares during the period. Kentucky Retirement Systems’ holdings in Micron Technology were worth $10,976,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter valued at about $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. Richard W. Paul & Associates LLC boosted its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their target price on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research note on Tuesday, June 25th. Cantor Fitzgerald boosted their target price on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Susquehanna lowered their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $148.54.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

Micron Technology Trading Down 1.6 %

MU opened at $87.35 on Thursday. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The company has a fifty day moving average of $101.48 and a 200-day moving average of $114.77. The stock has a market cap of $96.86 billion, a PE ratio of -61.51 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company posted ($1.57) EPS. The business’s quarterly revenue was up 81.5% on a year-over-year basis. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

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.