Oregon Public Employees Retirement Fund Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Oregon Public Employees Retirement Fund grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,064 shares of the semiconductor manufacturer’s stock after purchasing an additional 634 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Micron Technology were worth $12,504,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MU. Atria Investments Inc grew its position in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares in the last quarter. Aspect Partners LLC grew its holdings in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares in the last quarter. Finally, LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,174 shares of company stock worth $6,827,113. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Down 8.0 %

Shares of NASDAQ:MU opened at $88.58 on Wednesday. Micron Technology, Inc. has a 52-week low of $63.83 and a 52-week high of $157.54. The stock has a market cap of $98.22 billion, a P/E ratio of -62.38 and a beta of 1.18. The business has a fifty day moving average of $111.55 and a two-hundred day moving average of $114.87. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.57) EPS. On average, research analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley raised their price objective on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. The Goldman Sachs Group upped their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Susquehanna lowered their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald upped their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

About Micron Technology

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.