South Dakota Investment Council Sells 43,925 Shares of Micron Technology, Inc. (NASDAQ:MU)

South Dakota Investment Council decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,195 shares of the semiconductor manufacturer's stock after selling 43,925 shares during the quarter. South Dakota Investment Council's holdings in Micron Technology were worth $17,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. OFI Invest Asset Management acquired a new stake in Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the third quarter valued at about $28,000. VisionPoint Advisory Group LLC grew its stake in shares of Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer's stock valued at $33,000 after acquiring an additional 198 shares in the last quarter. Cape Investment Advisory Inc. increased its position in Micron Technology by 51.0% during the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer's stock worth $40,000 after acquiring an additional 200 shares during the period. Finally, Clear Street Markets LLC raised its stake in Micron Technology by 67.5% in the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer's stock worth $42,000 after purchasing an additional 251 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company's stock, valued at approximately $63,431,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, 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. Insiders have sold a total of 306,890 shares of company stock valued at $33,005,157 over the last 90 days. Insiders own 0.32% of the company's stock.

Micron Technology Stock Up 3.1 %

Shares of MU stock traded up $3.34 on Tuesday, reaching $112.46. 17,854,605 shares of the company were exchanged, compared to its average volume of 20,590,105. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a 50-day moving average of $104.04 and a 200-day moving average of $87.52. The company has a market cap of $124.53 billion, a price-to-earnings ratio of -32.60 and a beta of 1.27. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54.

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

Micron Technology Dividend Announcement

The business 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 was Thursday, March 28th. 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 -13.33%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. Robert W. Baird upped their price objective on shares of Micron Technology from $78.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. 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 report on Thursday, March 21st. Stifel Nicolaus reaffirmed a "buy" rating and set a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. Finally, Cantor Fitzgerald upped their target price on Micron Technology from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.20.

About Micron Technology

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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