Oregon Public Employees Retirement Fund Cuts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Oregon Public Employees Retirement Fund lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 958,101 shares of the semiconductor manufacturer’s stock after selling 181,273 shares during the quarter. Micron Technology makes up about 0.9% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 15th biggest holding. Oregon Public Employees Retirement Fund owned approximately 0.09% of Micron Technology worth $72,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Baupost Group LLC MA acquired a new stake in Micron Technology during the 3rd quarter worth $245,225,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Micron Technology by 35.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 18,026,673 shares of the semiconductor manufacturer’s stock valued at $846,533,000 after acquiring an additional 4,699,280 shares during the last quarter. Sanders Capital LLC boosted its position in shares of Micron Technology by 9.2% during the 3rd quarter. Sanders Capital LLC now owns 29,258,834 shares of the semiconductor manufacturer’s stock valued at $1,498,842,000 after acquiring an additional 2,455,277 shares during the last quarter. Himalaya Capital Management LLC boosted its position in shares of Micron Technology by 15.8% during the 3rd quarter. Himalaya Capital Management LLC now owns 11,476,523 shares of the semiconductor manufacturer’s stock valued at $538,938,000 after acquiring an additional 1,567,100 shares during the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of Micron Technology during the 3rd quarter valued at about $69,347,000. 80.43% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, December 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Cowen boosted their price target on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Royal Bank of Canada upped their target price on shares of Micron Technology from $57.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, January 5th. Finally, KeyCorp upped their target price on shares of Micron Technology from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.61.

In other news, CFO David Zinsner sold 8,050 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $87.90, for a total value of $707,595.00. Following the completion of the sale, the chief financial officer now directly owns 133,464 shares of the company’s stock, valued at $11,731,485.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 12,446 shares of the stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $65.00, for a total value of $808,990.00. Following the completion of the sale, the executive vice president now directly owns 148,722 shares of the company’s stock, valued at $9,666,930. The disclosure for this sale can be found here. Insiders sold 122,566 shares of company stock valued at $9,485,357 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Shares of MU stock traded up $0.98 during trading hours on Tuesday, reaching $87.26. 785,832 shares of the stock were exchanged, compared to its average volume of 18,534,713. The business’s fifty day moving average is $81.99 and its two-hundred day moving average is $62.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.91 and a quick ratio of 1.94. Micron Technology, Inc. has a 12-month low of $31.13 and a 12-month high of $91.49. The firm has a market capitalization of $97.62 billion, a P/E ratio of 32.56, a P/E/G ratio of 1.73 and a beta of 1.37.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.66 billion. Micron Technology had a return on equity of 8.46% and a net margin of 13.59%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 3.64 earnings per share for the current fiscal year.

Micron Technology Company Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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

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