Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,500 shares of the semiconductor manufacturer's stock after selling 26,906 shares during the quarter. Teacher Retirement System of Texas' holdings in Micron Technology were worth $12,498,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MU. Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 277 shares in the last quarter. True Wealth Design LLC increased its holdings in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 296 shares during the last quarter. Beacon Capital Management LLC raised its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $39,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently weighed in on MU shares. TD Cowen reduced their target price on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a report on Friday. Finally, Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued 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 $132.63.

Insider Transactions at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on 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. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

MU stock traded down $2.76 on Tuesday, reaching $94.18. The company had a trading volume of 22,163,705 shares, compared to its average volume of 22,527,407. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company's fifty day moving average is $96.86 and its 200 day moving average is $98.40. The company has a market cap of $104.93 billion, a P/E ratio of 27.14 and a beta of 1.23. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 0.49%. 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.