Virginia Retirement Systems ET AL lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 772,300 shares of the semiconductor manufacturer’s stock after selling 79,500 shares during the quarter. Virginia Retirement Systems ET AL owned about 0.07% of Micron Technology worth $30,375,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Capital Research Global Investors lifted its position in shares of Micron Technology by 386.6% during the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Micron Technology by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after acquiring an additional 74,670 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 292.8% in the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after acquiring an additional 8,834,274 shares during the period. Amerigo Asset Management increased its holdings in shares of Micron Technology by 11.9% in the 2nd quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock valued at $241,193,000 after acquiring an additional 860,000 shares during the period. Finally, CI Investments Inc. increased its holdings in shares of Micron Technology by 0.5% in the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after acquiring an additional 35,300 shares during the period. Institutional investors and hedge funds own 76.85% of the company’s stock.

In related news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the sale, the director now directly owns 117,284 shares in the company, valued at approximately $3,828,149.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the completion of the sale, the executive vice president now owns 140,232 shares in the company, valued at $4,767,888. The disclosure for this sale can be found here. Insiders have sold a total of 308,415 shares of company stock worth $11,836,825 over the last 90 days. Insiders own 0.69% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at $49.68 on Monday. The company has a market cap of $57,293.71, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.78. Micron Technology, Inc. has a 1 year low of $18.18 and a 1 year high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business’s revenue was up 90.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. sell-side analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on MU shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a report on Tuesday, November 7th. UBS AG reaffirmed a “buy” rating and issued a $53.00 target price (up from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. Evercore ISI lifted their target price on shares of Micron Technology from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, September 18th. Citigroup Inc. reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Micron Technology in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average price target of $47.20.

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About Micron Technology

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

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