Teacher Retirement System of Texas Decreases Stake in Micron Technology, Inc. (NASDAQ:MU)

Teacher Retirement System of Texas lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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.

A number of other institutional investors have also modified their holdings of MU. State Street Corp lifted its stake in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Geode Capital Management LLC increased its position in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the period. Bank of New York Mellon Corp increased its position in Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock worth $837,923,000 after buying an additional 144,897 shares during the period. Finally, Franklin Resources Inc. increased its position in Micron Technology by 4.6% in the third quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after buying an additional 321,955 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a report on Friday. Finally, UBS Group raised their price target on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $132.63.

Micron Technology Trading Down 8.0 %

NASDAQ:MU opened at $94.72 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm has a market capitalization of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23. The stock has a fifty day simple moving average of $96.82 and a 200 day simple moving average of $98.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the company posted $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s payout ratio is presently 13.26%.

Micron Technology Company 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.