Maryland State Retirement & Pension System Sells 4,473 Shares of Micron Technology, Inc. (NASDAQ:MU)

Maryland State Retirement & Pension System lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,104 shares of the semiconductor manufacturer’s stock after selling 4,473 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Micron Technology were worth $4,974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. bought a new position in Micron Technology during the 4th quarter worth about $135,865,000. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the last quarter. Finally, Bridgewater Associates LP bought a new stake in Micron Technology during the third quarter worth about $102,018,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 0.3 %

Shares of NASDAQ MU opened at $102.06 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The business has a fifty day simple moving average of $96.84 and a two-hundred day simple moving average of $98.19. The firm has a market cap of $113.71 billion, a PE ratio of 29.41 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MU. UBS Group raised their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC cut their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Barclays decreased their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

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.