Public Employees Retirement Association of Colorado Has $12.58 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Public Employees Retirement Association of Colorado lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,489 shares of the semiconductor manufacturer's stock after selling 4,576 shares during the period. Public Employees Retirement Association of Colorado's holdings in Micron Technology were worth $12,581,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. SOA Wealth Advisors LLC. raised its holdings in shares of Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock valued at $123,000 after buying an additional 325 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Micron Technology by 3.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock valued at $694,000 after buying an additional 241 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Micron Technology by 524.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock valued at $1,541,000 after buying an additional 12,482 shares during the period. World Investment Advisors LLC raised its holdings in Micron Technology by 103.7% during the third quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock valued at $344,000 after buying an additional 1,688 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Micron Technology during the 3rd quarter valued at about $21,406,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 2.3 %

MU traded up $1.78 during trading on Thursday, reaching $78.73. 9,217,932 shares of the stock were exchanged, compared to its average volume of 24,376,658. The stock has a market cap of $87.99 billion, a P/E ratio of 22.67 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The stock's 50 day moving average price is $84.23 and its two-hundred day moving average price is $94.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company's quarterly revenue was up 38.2% on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.58%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MU. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Robert W. Baird raised their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research report on Monday. Finally, Royal Bank of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.04.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.