Micron Technology, Inc. (NASDAQ:MU) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,502,529 shares of the semiconductor manufacturer's stock after selling 46,618 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Micron Technology worth $130,555,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology in the 1st quarter worth approximately $33,000. Curio Wealth LLC purchased a new stake in Micron Technology during the 4th quarter valued at $34,000. Hurley Capital LLC purchased a new stake in Micron Technology during the 4th quarter valued at $37,000. Finally, Roxbury Financial LLC increased its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 over the last 90 days. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group began coverage on shares of Micron Technology in a research note on Thursday. They set a "neutral" rating and a $130.00 price objective on the stock. Morgan Stanley raised their target price on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Piper Sandler upped their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Micron Technology Trading Down 4.2%

Shares of NASDAQ:MU traded down $5.28 during mid-day trading on Monday, hitting $119.25. The company had a trading volume of 14,591,601 shares, compared to its average volume of 23,220,896. The firm has a fifty day moving average price of $108.03 and a 200 day moving average price of $96.01. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $135.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market capitalization of $133.45 billion, a PE ratio of 21.48 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the firm earned $0.62 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology's dividend payout ratio is presently 8.29%.

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.