Arizona State Retirement System raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 257,849 shares of the semiconductor manufacturer’s stock after buying an additional 1,200 shares during the period. Arizona State Retirement System’s holdings in Micron Technology were worth $7,699,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MU. Guardian Life Insurance Co. of America boosted its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services boosted its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank boosted its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Micron Technology during the second quarter worth approximately $141,000. Finally, Coconut Grove Bank boosted its stake in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology, Inc. (NASDAQ:MU) opened at 28.01 on Friday. The company has a market cap of $31.09 billion, a P/E ratio of 12.30 and a beta of 1.76. Micron Technology, Inc. has a 52 week low of $15.08 and a 52 week high of $32.96. The company has a 50-day moving average of $30.24 and a 200-day moving average of $27.97.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the company posted ($0.08) EPS. The firm’s revenue was up 92.2% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology, Inc. will post $4.71 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Micron Technology, Inc. (MU) Position Boosted by Arizona State Retirement System” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/micron-technology-inc-mu-position-boosted-by-arizona-state-retirement-system/1477890.html.

A number of equities research analysts have commented on MU shares. UBS AG reissued an “average” rating and set a $36.00 price target (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Mizuho restated a “buy” rating and set a $35.00 price objective on shares of Micron Technology in a research report on Tuesday, April 25th. Needham & Company LLC restated a “buy” rating on shares of Micron Technology in a research report on Thursday, June 8th. Stifel Nicolaus restated a “buy” rating and set a $47.00 price objective on shares of Micron Technology in a research report on Tuesday, June 6th. Finally, ValuEngine lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $35.65.

In other news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the sale, the vice president now directly owns 52,542 shares in the company, valued at approximately $1,615,666.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the sale, the senior vice president now owns 292,211 shares in the company, valued at $9,216,334.94. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock worth $1,442,015 over the last 90 days. Company insiders own 0.69% of the company’s stock.

About Micron Technology

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.