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

New York State Common Retirement Fund cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,549,147 shares of the semiconductor manufacturer's stock after selling 64,427 shares during the period. New York State Common Retirement Fund owned about 0.14% of Micron Technology worth $130,376,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MU. Harmony Asset Management LLC increased its position in shares of Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after purchasing an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position in shares of Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock valued at $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock valued at $20,236,000 after purchasing an additional 40,802 shares during the last quarter. Stablepoint Partners LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $569,000. Finally, State Street Corp increased its position in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

NASDAQ:MU traded down $4.40 during mid-day trading on Friday, reaching $98.78. The stock had a trading volume of 18,633,227 shares, compared to its average volume of 22,918,740. The firm has a 50 day moving average price of $96.35 and a two-hundred day moving average price of $98.70. The stock has a market capitalization of $110.06 billion, a P/E ratio of 28.47 and a beta of 1.18. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The business's revenue was up 84.3% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology's payout ratio is currently 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. The trade was a 2.63 % 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. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MU. Barclays decreased their target price on Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, December 20th. Sanford C. Bernstein decreased their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday, December 18th. Piper Sandler decreased their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Finally, Cantor Fitzgerald decreased their price objective on Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $134.96.

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.