New Mexico Educational Retirement Board lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,425 shares of the semiconductor manufacturer’s stock after selling 5,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Micron Technology were worth $3,861,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Executive Wealth Management LLC purchased a new stake in Micron Technology during the 4th quarter worth about $26,000. JNBA Financial Advisors bought a new position in Micron Technology in the 4th quarter worth about $28,000. Lavaca Capital LLC bought a new position in Micron Technology in the 4th quarter worth about $29,000. Athena Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth about $29,000. Finally, Valeo Financial Advisors LLC increased its stake in Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on MU shares. BidaskClub lowered Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 27th. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 9th. BMO Capital Markets upgraded Micron Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $32.00 to $50.00 in a research note on Monday, January 7th. They noted that the move was a valuation call. Citigroup lowered Micron Technology from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $35.00 to $30.00 in a research note on Thursday, March 21st. Finally, Cross Research lowered Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.85.
In other Micron Technology news, SVP Joel L. Poppen sold 20,210 shares of Micron Technology stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the transaction, the senior vice president now owns 269,368 shares in the company, valued at $11,165,303.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total value of $621,159.68. Following the transaction, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,878 shares of company stock valued at $2,293,223. 0.20% of the stock is currently owned by company insiders.
NASDAQ MU opened at $43.16 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. The company has a market capitalization of $46.28 billion, a price-to-earnings ratio of 3.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.87.
Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.82 billion. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 EPS. As a group, research analysts expect that Micron Technology, Inc. will post 6.27 earnings per share for the current year.
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Micron Technology Company Profile
Micron Technology, Inc manufactures and sells memory and storage solutions 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 Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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