New York State Teachers Retirement System Trims Stake in Micron Technology, Inc. $MU

Key Points

• The New York State Teachers Retirement System reduced its stake in Micron Technology by 0.3%, owning 932,821 shares valued at approximately $114.97 million after selling 2,823 shares in the second quarter.
• Micron Technology announced a quarterly dividend of $0.115 per share to be paid on October 21, representing a 0.2% yield based on an annualized payout.
• Several analysts have increased their target prices for Micron Technology, with JPMorgan boosting theirs from $185.00 to $220.00 and Barclays raising from $140.00 to $175.00, indicating bullish sentiment in the market.

New York State Teachers Retirement System reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 932,821 shares of the semiconductor manufacturer's stock after selling 2,823 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Micron Technology worth $114,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. Nuveen LLC purchased a new position in shares of Micron Technology in the 1st quarter worth about $369,191,000. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. Finally, Keystone Investors PTE Ltd. purchased a new position in shares of Micron Technology in the 1st quarter worth about $96,253,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares in the company, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,956 shares of company stock worth $22,841,025 over the last quarter. Insiders own 0.30% of the company's stock.

Micron Technology Trading Up 2.6%

MU opened at $191.94 on Thursday. The business has a 50 day simple moving average of $147.72 and a two-hundred day simple moving average of $115.92. The firm has a market capitalization of $215.45 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 0.41 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $201.00.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting analysts' consensus estimates of $2.86. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.Micron Technology's quarterly revenue was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology's dividend payout ratio is 6.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price on Micron Technology from $140.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. JPMorgan Chase & Co. boosted their target price on Micron Technology from $185.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a "hold (c+)" rating on shares of Micron Technology in a research note on Tuesday. Erste Group Bank assumed coverage on Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating for the company. Finally, Bank of America boosted their target price on Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and an average target price of $194.57.

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.

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