Public Employees Retirement System of Ohio Raises Stock Holdings in Micron Technology, Inc. $MU

Public Employees Retirement System of Ohio boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 472,220 shares of the semiconductor manufacturer’s stock after buying an additional 943 shares during the period. Public Employees Retirement System of Ohio’s holdings in Micron Technology were worth $58,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MU. Brighton Jones LLC raised its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock valued at $7,214,000 after buying an additional 13,985 shares during the period. Ameriflex Group Inc. purchased a new stake in Micron Technology in the 4th quarter valued at about $116,000. B. Riley Wealth Advisors Inc. raised its holdings in Micron Technology by 6.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 25,054 shares of the semiconductor manufacturer’s stock valued at $2,111,000 after buying an additional 1,532 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $215,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.1%

MU stock opened at $166.41 on Wednesday. The company’s 50 day moving average price is $125.66 and its 200 day moving average price is $106.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $170.45. The firm has a market capitalization of $186.23 billion, a price-to-earnings ratio of 29.98 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 8.29%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MU shares. CLSA assumed coverage on shares of Micron Technology in a report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 price objective on the stock. KGI Securities lowered shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Wall Street Zen lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Susquehanna boosted their price target on shares of Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.54.

Insider Activity

In related news, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,946 shares of company stock valued at $32,306,159 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

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.