New York State Common Retirement Fund Cuts Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

New York State Common Retirement Fund cut its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,574 shares of the semiconductor manufacturer's stock after selling 5,025 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Micron Technology worth $167,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter worth $28,000. Davis Capital Management bought a new stake in shares of Micron Technology during the 3rd quarter worth $30,000. Richard W. Paul & Associates LLC lifted its holdings in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 235 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MU. Bank of America boosted their price target on shares of Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Rosenblatt Securities boosted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. KeyCorp lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Stock Performance

MU stock traded up $0.08 during midday trading on Friday, reaching $99.73. 13,603,266 shares of the company's stock traded hands, compared to its average volume of 21,915,816. The stock's 50-day moving average is $98.94 and its 200 day moving average is $113.27. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The stock has a market cap of $110.57 billion, a P/E ratio of 146.66 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $69.75 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company's revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.21) earnings per share. As a group, analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology's dividend payout ratio (DPR) is currently 67.65%.

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.