Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,632 Shares of Micron Technology, Inc. (NASDAQ:MU)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,752 shares of the semiconductor manufacturer’s stock after selling 5,632 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Micron Technology were worth $19,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. iA Global Asset Management Inc. increased its position in shares of Micron Technology by 6.2% during the 4th quarter. iA Global Asset Management Inc. now owns 120,077 shares of the semiconductor manufacturer’s stock worth $10,106,000 after purchasing an additional 7,043 shares in the last quarter. First National Bank of Hutchinson grew its stake in Micron Technology by 2.6% during the fourth quarter. First National Bank of Hutchinson now owns 8,888 shares of the semiconductor manufacturer’s stock worth $748,000 after buying an additional 223 shares during the last quarter. Arvest Investments Inc. increased its holdings in shares of Micron Technology by 6.1% during the fourth quarter. Arvest Investments Inc. now owns 22,115 shares of the semiconductor manufacturer’s stock worth $1,861,000 after buying an additional 1,273 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Micron Technology by 1.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 786,701 shares of the semiconductor manufacturer’s stock valued at $66,209,000 after acquiring an additional 14,570 shares during the last quarter. Finally, Investment House LLC boosted its holdings in shares of Micron Technology by 56.9% in the 4th quarter. Investment House LLC now owns 39,070 shares of the semiconductor manufacturer’s stock worth $3,288,000 after acquiring an additional 14,174 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MU shares. Morgan Stanley dropped their price target on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. KGI Securities raised Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a report on Monday. Cantor Fitzgerald lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Trading Up 0.9 %

MU opened at $103.00 on Friday. The firm’s fifty day moving average is $96.92 and its two-hundred day moving average is $98.22. The firm has a market cap of $114.76 billion, a PE ratio of 29.68 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

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.