California Public Employees Retirement System Has $342.28 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

California Public Employees Retirement System increased its position in Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,067,046 shares of the semiconductor manufacturer’s stock after purchasing an additional 150,255 shares during the quarter. California Public Employees Retirement System owned approximately 0.37% of Micron Technology worth $342,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. RWA Wealth Partners LLC raised its position in shares of Micron Technology by 1,188.6% during the 4th quarter. RWA Wealth Partners LLC now owns 66,030 shares of the semiconductor manufacturer’s stock valued at $5,557,000 after acquiring an additional 60,906 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Micron Technology by 16.3% during the fourth quarter. Schroder Investment Management Group now owns 564,884 shares of the semiconductor manufacturer’s stock worth $47,541,000 after purchasing an additional 79,323 shares during the period. MV Capital Management Inc. increased its holdings in Micron Technology by 1.9% in the fourth quarter. MV Capital Management Inc. now owns 30,837 shares of the semiconductor manufacturer’s stock valued at $2,595,000 after purchasing an additional 575 shares during the last quarter. Allianz SE bought a new stake in Micron Technology in the fourth quarter valued at about $5,930,000. Finally, Allstate Corp acquired a new position in Micron Technology in the fourth quarter valued at about $2,768,000. 80.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research report on Wednesday, March 19th. TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.76.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s 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 completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 3.0 %

MU stock opened at $88.44 on Friday. The company has a market cap of $98.84 billion, a price-to-earnings ratio of 25.49 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The business has a 50 day moving average price of $96.00 and a two-hundred day moving average price of $98.45. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share 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 business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

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.