Oregon Public Employees Retirement Fund Has $8.32 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Oregon Public Employees Retirement Fund lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,756 shares of the semiconductor manufacturer’s stock after purchasing an additional 660 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Micron Technology were worth $8,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Brighton Jones LLC raised its stake in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock worth $7,214,000 after acquiring an additional 13,985 shares in the last quarter. Norden Group LLC boosted its stake in Micron Technology by 7.9% during the fourth quarter. Norden Group LLC now owns 4,431 shares of the semiconductor manufacturer’s stock worth $373,000 after acquiring an additional 324 shares in the last quarter. Modera Wealth Management LLC boosted its stake in Micron Technology by 13.5% during the fourth quarter. Modera Wealth Management LLC now owns 4,647 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 554 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Micron Technology by 85.2% during the fourth quarter. Jones Financial Companies Lllp now owns 34,794 shares of the semiconductor manufacturer’s stock worth $2,928,000 after acquiring an additional 16,008 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Up 0.7%

NASDAQ MU opened at $121.74 on Thursday. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $137.13. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $101.83 and its 200-day simple moving average is $94.67. The firm has a market cap of $136.24 billion, a PE ratio of 21.94 and a beta of 1.35.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insider Buying and Selling

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,042 shares of company stock valued at $30,863,160 in the last three months. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Piper Sandler raised their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Stifel Nicolaus raised their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Finally, Barclays raised their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.21.

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.