Teacher Retirement System of Texas Acquires 66,041 Shares of Micron Technology, Inc. (NASDAQ:MU)

Teacher Retirement System of Texas raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 44.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,541 shares of the semiconductor manufacturer's stock after acquiring an additional 66,041 shares during the period. Teacher Retirement System of Texas' holdings in Micron Technology were worth $18,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. E Fund Management Co. Ltd. raised its position 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 worth $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Micron Technology by 43.0% during the 4th 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. Landscape Capital Management L.L.C. raised its stake in shares of Micron Technology by 167.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares during the last quarter. Duquesne Family Office LLC acquired a new position in Micron Technology in the fourth quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC raised its position in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after acquiring an additional 1,130,680 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $122.03 on Friday. The business's 50 day moving average is $103.57 and its 200-day moving average is $94.86. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $136.56 billion, a PE ratio of 21.99 and a beta of 1.35. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $137.13.

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

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given 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 yield of 0.38%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This represents a 31.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock worth $31,154,717 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the subject of several research reports. Susquehanna boosted their price target on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research report on Thursday, June 26th. Citigroup increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities raised their price objective on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Barclays lifted their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Stifel Nicolaus boosted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently 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.

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