Kentucky Retirement Systems Insurance Trust Fund Sells 5,181 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,068 shares of the semiconductor manufacturer's stock after selling 5,181 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Micron Technology were worth $2,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. FMR LLC boosted its position in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital World Investors boosted its position in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter valued at $1,470,875,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $123.60 on Friday. The firm has a market capitalization of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The stock's 50-day simple moving average is $93.13 and its two-hundred day simple moving average is $93.33. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $144.07.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company's quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MU. Royal Bank Of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Wells Fargo & Company raised Micron Technology from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $130.00 to $150.00 in a research report on Friday. Barclays dropped their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Finally, Morgan Stanley dropped their price target on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.92.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,404 shares of company stock worth $5,572,867 in the last ninety days. 0.30% of the stock is currently owned by insiders.

About Micron Technology

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.

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