Teacher Retirement System of Texas Lowers Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Teacher Retirement System of Texas cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,500 shares of the semiconductor manufacturer’s stock after selling 26,906 shares during the period. Teacher Retirement System of Texas’ holdings in Micron Technology were worth $12,498,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Micron Technology during the third quarter worth $39,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth $33,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Down 8.0 %

Micron Technology stock opened at $94.72 on Friday. The stock has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The stock has a 50-day moving average price of $96.82 and a 200 day moving average price of $98.21. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Citigroup decreased their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC reduced their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Barclays raised their target price on Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

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.