State of Tennessee Treasury Department cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,213,122 shares of the semiconductor manufacturer’s stock after selling 292,247 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.20% of Micron Technology worth $87,042,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. increased 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 worth $457,000 after acquiring an additional 154 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in Micron Technology by 0.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after acquiring an additional 221 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Micron Technology by 0.5% in 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 acquiring an additional 367 shares during the last quarter. Parallel Advisors LLC increased its holdings in Micron Technology by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 369 shares during the last quarter. Finally, Advisor Partners LLC increased its holdings in Micron Technology by 1.5% in the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock worth $736,000 after acquiring an additional 372 shares during the last quarter. 76.21% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on MU shares. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 target price on shares of Micron Technology in a report on Wednesday, July 12th. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. BMO Capital Markets reaffirmed a “hold” rating on shares of Micron Technology in a report on Thursday, July 27th. Mizuho reaffirmed an “outperform” rating and set a $38.00 target price on shares of Micron Technology in a report on Thursday, July 27th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Micron Technology in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Micron Technology currently has a consensus rating of “Buy” and an average target price of $46.57.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down $0.66 during trading hours on Monday, hitting $43.05. The stock had a trading volume of 14,342,724 shares, compared to its average volume of 40,100,000. Micron Technology, Inc. has a twelve month low of $16.45 and a twelve month high of $45.33. The stock has a market cap of $50,410.00, a P/E ratio of 9.84, a PEG ratio of 0.60 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. sell-side analysts forecast that Micron Technology, Inc. will post 7.29 EPS for the current fiscal year.

In related news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $32.64, for a total transaction of $97,920.00. Following the transaction, the director now directly owns 117,284 shares in the company, valued at approximately $3,828,149.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 333,415 shares of company stock worth $12,602,325. 0.69% of the stock is owned by company insiders.

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Micron Technology Profile

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

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