California Public Employees Retirement System Buys 150,255 Shares of Micron Technology, Inc. (NASDAQ:MU)

California Public Employees Retirement System raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,067,046 shares of the semiconductor manufacturer's stock after purchasing an additional 150,255 shares during the period. California Public Employees Retirement System owned 0.37% of Micron Technology worth $342,283,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Micron Technology during the 4th quarter worth about $1,470,875,000. Nomura Asset Management Co. Ltd. boosted its holdings in Micron Technology by 339.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock worth $189,781,000 after acquiring an additional 1,742,073 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Micron Technology in the fourth quarter valued at approximately $135,865,000. State Street Corp increased its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock worth $192,840,000 after purchasing an additional 1,334,690 shares during the period. 80.84% of the stock is owned by institutional investors.

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Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president now owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MU. UBS Group lifted their target price on Micron Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, March 17th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Wells Fargo & Company dropped their price target on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Finally, Morgan Stanley boosted their target price on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average target price of $129.76.

Micron Technology Price Performance

NASDAQ:MU traded up $1.82 during trading hours on Tuesday, hitting $88.71. 15,040,349 shares of the company's stock traded hands, compared to its average volume of 22,835,156. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The business's fifty day simple moving average is $95.62 and its two-hundred day simple moving average is $98.51. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $99.14 billion, a P/E ratio of 25.56 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Micron Technology's revenue was up 38.2% on a year-over-year basis. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

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.