Municipal Employees Retirement System of Michigan trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 13.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,780 shares of the semiconductor manufacturer’s stock after selling 4,400 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Micron Technology were worth $1,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. raised its holdings in Micron Technology by 1.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after acquiring an additional 154 shares during the period. Honkamp Krueger Financial Services Inc. grew its position in shares of Micron Technology by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after purchasing an additional 221 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after purchasing an additional 367 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 369 shares in the last quarter. Finally, Advisor Partners LLC grew its position in shares of Micron Technology by 1.5% during the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock worth $736,000 after purchasing an additional 372 shares in the last quarter. 76.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on MU shares. BidaskClub upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Mizuho reiterated a “buy” rating and set a $38.00 price target on shares of Micron Technology in a research report on Wednesday, August 16th. Citigroup Inc. reiterated a “buy” rating and set a $45.00 price target on shares of Micron Technology in a research report on Monday, August 14th. Cowen and Company reiterated a “buy” rating on shares of Micron Technology in a research report on Thursday, August 10th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Micron Technology in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average price target of $47.20.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at $49.40 on Wednesday. Micron Technology, Inc. has a 12 month low of $18.18 and a 12 month high of $49.63. The stock has a market cap of $56,970.00, a price-to-earnings ratio of 10.73, a PEG ratio of 0.64 and a beta of 1.78. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 90.8% on a year-over-year basis. analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

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In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold a total of 308,415 shares of company stock valued at $11,836,825 over the last quarter. 0.69% of the stock is currently owned by company insiders.

Micron Technology Company Profile

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

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