Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Teachers Retirement System of The State of Kentucky reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,684 shares of the semiconductor manufacturer's stock after selling 40,592 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Micron Technology were worth $17,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Twin Capital Management Inc. grew its position in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares in the last quarter. Cim Investment Management Inc. grew its holdings in shares of Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Micron Technology by 1.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer's stock valued at $883,000 after acquiring an additional 119 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Micron Technology by 3.9% during the 4th quarter. FineMark National Bank & Trust now owns 3,640 shares of the semiconductor manufacturer's stock valued at $306,000 after acquiring an additional 136 shares in the last quarter. Finally, Carson Advisory Inc. grew its holdings in shares of Micron Technology by 1.6% during the 4th quarter. Carson Advisory Inc. now owns 8,592 shares of the semiconductor manufacturer's stock valued at $723,000 after acquiring an additional 139 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MU. Citigroup boosted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Wedbush boosted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Mizuho boosted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Barclays upped their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Needham & Company LLC upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $146.44.

Insider Transactions 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 shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. The trade was a 9.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Micron Technology stock traded up $1.77 during mid-day trading on Thursday, hitting $111.60. 11,980,137 shares of the company traded hands, compared to its average volume of 23,428,660. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The stock has a market cap of $124.90 billion, a price-to-earnings ratio of 20.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The stock has a fifty day moving average price of $112.35 and a 200-day moving average price of $97.41.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the company posted $0.62 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology's dividend payout ratio is presently 8.29%.

Micron Technology Company 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.