New York State Common Retirement Fund Sells 146,258 Shares of Micron Technology, Inc. (NASDAQ:MU)

New York State Common Retirement Fund lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,957,797 shares of the semiconductor manufacturer's stock after selling 146,258 shares during the period. New York State Common Retirement Fund owned about 0.18% of Micron Technology worth $167,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Vanguard Group Inc. raised its stake in Micron Technology by 0.3% in the third quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer's stock worth $6,410,412,000 after buying an additional 305,860 shares in the last quarter. FMR LLC lifted its stake in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Wellington Management Group LLP boosted its position in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley grew its stake in Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer's stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares during the period. Finally, Northern Trust Corp raised its holdings in Micron Technology by 0.7% in the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer's stock worth $737,015,000 after purchasing an additional 80,345 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Wells Fargo & Company lifted their price objective on Micron Technology from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Citigroup reissued a "buy" rating and issued a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. TD Cowen lifted their price target on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus reissued a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $122.20.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $87.41, for a total value of $611,870.00. Following the completion of the sale, the chief executive officer now directly owns 642,251 shares of the company's stock, valued at approximately $56,139,159.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares of the company's stock, valued at $56,139,159.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company's stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,890 shares of company stock worth $33,617,027. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

MU traded up $2.35 on Monday, hitting $109.12. 19,791,449 shares of the company's stock traded hands, compared to its average volume of 20,625,643. The company's 50 day simple moving average is $103.42 and its 200-day simple moving average is $87.22. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The firm has a market cap of $120.84 billion, a price-to-earnings ratio of -31.63 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology's revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.03) EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.

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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