Teachers Retirement System of The State of Kentucky Sells 4,866 Shares of Micron Technology, Inc. (NASDAQ:MU)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 261,026 shares of the semiconductor manufacturer’s stock after selling 4,866 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Micron Technology were worth $27,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Harmony Asset Management LLC grew its position in Micron Technology by 75.6% during the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. increased its holdings in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after acquiring an additional 29,000 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Micron Technology by 26.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares during the period. State Street Corp boosted its stake in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the period. Finally, Global X Japan Co. Ltd. boosted its position in shares of Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after acquiring an additional 9,735 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MU. Raymond James boosted their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Wells Fargo & Company cut their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, TD Cowen increased their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Down 4.6 %

Shares of Micron Technology stock opened at $98.10 on Wednesday. Micron Technology, Inc. has a 12-month low of $76.96 and a 12-month high of $157.54. The firm’s 50 day simple moving average is $103.64 and its two-hundred day simple moving average is $110.23. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $109.29 billion, a price-to-earnings ratio of 144.27 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the company earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is currently 67.65%.

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.