New York State Teachers Retirement System Has $81.30 Million Position in Micron Technology, Inc. (NASDAQ:MU)

New York State Teachers Retirement System boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 935,644 shares of the semiconductor manufacturer's stock after purchasing an additional 16,971 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Micron Technology worth $81,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter valued at about $33,000. Curio Wealth LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at approximately $34,000. Hurley Capital LLC bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $37,000. Finally, Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the transaction, the executive vice president owned 166,353 shares in the company, valued at $20,812,423.83. The trade was a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,042 shares of company stock worth $21,010,360. Corporate insiders own 0.30% of the company's stock.

Micron Technology Trading Down 1.9%

MU stock traded down $2.36 during trading on Tuesday, hitting $120.89. The company had a trading volume of 24,793,999 shares, compared to its average volume of 23,306,039. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $137.13. The business has a 50-day moving average of $99.84 and a 200-day moving average of $94.30. The stock has a market cap of $135.29 billion, a PE ratio of 21.78 and a beta of 1.34.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating 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 company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. Research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 11.03%.

Analysts Set New Price Targets

Several research analysts have commented on MU shares. UBS Group boosted their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Bank of America boosted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Morgan Stanley upped their price objective on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. KeyCorp lifted their target price on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial boosted their target price on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.21.

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.