Public Employees Retirement Association of Colorado Sells 3,810 Shares of Micron Technology, Inc. (NASDAQ:MU)

Public Employees Retirement Association of Colorado reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,996 shares of the semiconductor manufacturer’s stock after selling 3,810 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Micron Technology were worth $20,255,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MU. Benjamin F. Edwards & Company Inc. raised its stake in Micron Technology by 17.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $547,000 after acquiring an additional 618 shares during the period. Ieq Capital LLC raised its position in shares of Micron Technology by 10.8% in the second quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock valued at $7,368,000 after purchasing an additional 5,473 shares during the period. LHM Inc. lifted its stake in shares of Micron Technology by 38.5% during the 2nd quarter. LHM Inc. now owns 77,242 shares of the semiconductor manufacturer’s stock valued at $10,160,000 after buying an additional 21,478 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Micron Technology by 111.3% in the 2nd quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock worth $12,236,000 after buying an additional 49,001 shares during the period. Finally, ProVise Management Group LLC purchased a new position in Micron Technology in the 2nd quarter valued at approximately $236,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MU. The Goldman Sachs Group raised their price target on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Needham & Company LLC reduced their target price on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, August 26th. Susquehanna decreased their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, Citigroup decreased their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Trading Up 1.8 %

NASDAQ MU opened at $90.90 on Friday. The firm has a market cap of $100.79 billion, a PE ratio of -64.01 and a beta of 1.17. Micron Technology, Inc. has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a 50-day moving average of $99.81 and a 200-day moving average of $114.56. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted ($1.57) earnings per share. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Transactions at Micron Technology

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

Micron Technology Company Profile

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.