Teachers Retirement System of The State of Kentucky Sells 40,592 Shares of Micron Technology, Inc. (NASDAQ:MU)

Teachers Retirement System of The State of Kentucky reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,684 shares of the semiconductor manufacturer's stock after selling 40,592 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Micron Technology were worth $17,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the 1st quarter valued at approximately $33,000. Hurley Capital LLC purchased a new stake in shares of Micron Technology in the 4th quarter valued at approximately $37,000. Roxbury Financial LLC grew 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 valued at $37,000 after buying an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in shares of Micron Technology by 240.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president directly owned 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, 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 valued at $31,154,717 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

MU stock traded down $4.01 during trading on Tuesday, hitting $109.22. The company had a trading volume of 27,843,450 shares, compared to its average volume of 23,350,366. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $129.85. 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 $122.23 billion, a price-to-earnings ratio of 19.68 and a beta of 1.35. The business has a 50 day moving average of $111.39 and a 200 day moving average of $97.08.

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 during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology's dividend payout ratio is currently 8.29%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MU. Robert W. Baird boosted their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. KeyCorp upped their target price on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. TD Cowen upped their target price on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Wedbush upped their target price on shares of Micron Technology from $150.00 to $165.00 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, four have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.44.

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.