California State Teachers Retirement System Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

California State Teachers Retirement System reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,715,380 shares of the semiconductor manufacturer's stock after selling 71,449 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Micron Technology worth $144,366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. SOA Wealth Advisors LLC. increased its position in shares of Micron Technology by 37.6% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock worth $123,000 after purchasing an additional 325 shares during the last quarter. SkyView Investment Advisors LLC lifted its holdings in Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock worth $694,000 after buying an additional 241 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its position in shares of Micron Technology by 524.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock worth $1,541,000 after acquiring an additional 12,482 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Micron Technology by 103.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock valued at $344,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new position in Micron Technology during the third quarter worth $21,406,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MU shares. Royal Bank of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Barclays reduced their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $128.56.

Micron Technology Trading Up 3.0 %

Micron Technology stock opened at $79.78 on Monday. The company's fifty day moving average price is $85.71 and its two-hundred day moving average price is $94.82. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market capitalization of $89.16 billion, a price-to-earnings ratio of 22.99 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm 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 business earned $0.42 EPS. The business's revenue was up 38.2% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

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.

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