Louisiana State Employees Retirement System Sells 6,100 Shares of Micron Technology, Inc. (NASDAQ:MU)

Louisiana State Employees Retirement System lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 140,900 shares of the semiconductor manufacturer’s stock after selling 6,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Micron Technology were worth $11,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $26,000. True Wealth Design LLC increased its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. DT Investment Partners LLC lifted its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares in the last quarter. Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. Finally, Activest Wealth Management increased its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $94.08 on Wednesday. The firm has a fifty day simple moving average of $96.58 and a two-hundred day simple moving average of $98.88. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $104.82 billion, a P/E ratio of 27.11 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MU. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Barclays dropped their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

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.