Teachers Retirement System of The State of Kentucky Has $20.64 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Teachers Retirement System of The State of Kentucky lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,276 shares of the semiconductor manufacturer's stock after selling 15,750 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Micron Technology were worth $20,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. E Fund Management Co. Ltd. lifted its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after buying an additional 4,264 shares during the last quarter. Stablepoint Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $569,000. Landscape Capital Management L.L.C. grew its position in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after acquiring an additional 28,621 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Micron Technology by 11.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock valued at $42,280,000 after acquiring an additional 52,729 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % 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, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Rosenblatt Securities cut their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Wedbush reiterated an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. Morgan Stanley raised their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.56.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $2.67 during trading on Wednesday, reaching $72.88. 26,312,680 shares of the company's stock traded hands, compared to its average volume of 23,252,263. The stock has a market capitalization of $81.44 billion, a P/E ratio of 21.00 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month 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 50 day moving average of $87.22 and a 200-day moving average of $95.43.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $0.42 EPS. Micron Technology's revenue was up 38.2% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.63%. Micron Technology's dividend payout ratio is presently 11.03%.

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.