Micron Technology, Inc. (MU) Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,425,042 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,842 shares during the period. California Public Employees Retirement System owned about 0.21% of Micron Technology worth $95,377,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Micron Technology during the 2nd quarter valued at $500,000. IHT Wealth Management LLC purchased a new stake in Micron Technology in the 2nd quarter worth about $1,056,000. SevenBridge Financial Group LLC increased its holdings in Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Micron Technology in the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 81.16% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at $43.01 on Tuesday. The firm has a market capitalization of $50,006.02, a P/E ratio of 9.73, a P/E/G ratio of 0.58 and a beta of 1.75. Micron Technology, Inc. has a 12-month low of $19.49 and a 12-month high of $49.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. analysts expect that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $41.38, for a total value of $124,140.00. Following the transaction, the director now directly owns 116,699 shares of the company’s stock, valued at approximately $4,829,004.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at $11,046,714. The disclosure for this sale can be found here. Insiders sold a total of 298,088 shares of company stock valued at $11,512,538 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective for the company. in a report on Friday, November 17th. Deutsche Bank reissued a “buy” rating and issued a $42.00 price objective (up previously from $37.00) on shares of Micron Technology in a report on Wednesday, September 20th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a report on Wednesday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price objective on shares of Micron Technology in a report on Monday, August 14th. Finally, J P Morgan Chase & Co lifted their price objective on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $48.20.

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About Micron Technology

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

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