Retirement Systems of Alabama Trims Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Retirement Systems of Alabama lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 689,242 shares of the semiconductor manufacturer’s stock after selling 9,157 shares during the quarter. Retirement Systems of Alabama’s holdings in Micron Technology were worth $58,007,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MU. Avitas Wealth Management LLC lifted its position in Micron Technology by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 24,553 shares of the semiconductor manufacturer’s stock worth $2,066,000 after buying an additional 137 shares during the period. Greenwood Capital Associates LLC lifted its position in Micron Technology by 21.4% during the fourth quarter. Greenwood Capital Associates LLC now owns 59,845 shares of the semiconductor manufacturer’s stock worth $5,037,000 after buying an additional 10,566 shares during the period. E. Ohman J or Asset Management AB lifted its position in Micron Technology by 11.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 49,930 shares of the semiconductor manufacturer’s stock worth $4,202,000 after buying an additional 5,030 shares during the period. Welch Group LLC lifted its position in Micron Technology by 6.7% during the fourth quarter. Welch Group LLC now owns 4,764 shares of the semiconductor manufacturer’s stock worth $406,000 after buying an additional 300 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in Micron Technology by 5.2% during the fourth quarter. Calamos Wealth Management LLC now owns 3,976 shares of the semiconductor manufacturer’s stock worth $335,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Up 0.8 %

Shares of Micron Technology stock opened at $90.66 on Wednesday. Micron Technology, Inc. has a 1-year low of $79.15 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business’s fifty day moving average price is $97.13 and its two-hundred day moving average price is $99.55. The company has a market capitalization of $101.01 billion, a P/E ratio of 26.13 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) EPS. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Analyst Ratings Changes

MU has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird cut their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology 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.