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

Teacher Retirement System of Texas cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,192,886 shares of the semiconductor manufacturer’s stock after selling 89,424 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Micron Technology worth $46,033,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MU. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,570,069 shares of the semiconductor manufacturer’s stock valued at $430,599,000 after purchasing an additional 115,976 shares during the last quarter. Geode Capital Management LLC increased its holdings in Micron Technology by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock worth $463,429,000 after acquiring an additional 229,817 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in Micron Technology in the 1st quarter worth about $55,000. Investors Research Corp purchased a new stake in Micron Technology in the 1st quarter worth about $99,000. Finally, Capital Investment Advisory Services LLC increased its holdings in Micron Technology by 85.3% in the 1st quarter. Capital Investment Advisory Services LLC now owns 1,086 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

MU has been the subject of several recent research reports. KeyCorp decreased their price objective on Micron Technology from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, June 26th. Piper Jaffray Companies cut their target price on Micron Technology from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Micron Technology in a research note on Friday, June 21st. Bank of America raised their target price on Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.27.

Shares of MU traded down $0.09 during mid-day trading on Wednesday, hitting $44.14. 9,025,384 shares of the company’s stock traded hands, compared to its average volume of 27,967,612. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $53.68. The firm has a market capitalization of $48.07 billion, a P/E ratio of 3.73 and a beta of 1.96. The business’s 50-day moving average price is $43.63 and its 200-day moving average price is $40.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the company posted $3.15 earnings per share. The firm’s revenue was down 38.6% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.06 earnings per share for the current fiscal year.

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the sale, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at $5,860,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel L. Poppen sold 654 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.64, for a total value of $29,848.56. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock worth $2,624,899 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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