Kentucky Retirement Systems Insurance Trust Fund Sells 2,887 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,830 shares of the semiconductor manufacturer’s stock after selling 2,887 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Micron Technology were worth $3,405,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares in the last quarter. Capital International Investors grew its holdings in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after purchasing an additional 61,127 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several recent analyst reports. UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. KeyCorp cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Rosenblatt Securities lifted their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus dropped their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 2.9 %

MU stock opened at $96.34 on Friday. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54. The company’s 50 day moving average price is $101.33 and its 200 day moving average price is $112.72. The firm has a market capitalization of $106.82 billion, a price-to-earnings ratio of 141.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the firm earned ($1.21) EPS. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Micron Technology 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.