Louisiana State Employees Retirement System Decreases Position in Micron Technology, Inc. $MU

Louisiana State Employees Retirement System decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 140,700 shares of the semiconductor manufacturer’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Micron Technology were worth $17,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Micron Technology in the second quarter worth about $37,000. Dogwood Wealth Management LLC boosted its holdings in Micron Technology by 259.6% in the second quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 257 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Micron Technology in the first quarter valued at about $33,000. AllSquare Wealth Management LLC boosted its holdings in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 2.8%

NASDAQ:MU opened at $185.69 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $137.96 and its two-hundred day moving average is $112.01. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $201.00. The company has a market cap of $208.43 billion, a PE ratio of 24.47, a P/E/G ratio of 0.42 and a beta of 1.56.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Arete Research raised Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Cantor Fitzgerald increased their price target on Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Raymond James Financial increased their price target on Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Morgan Stanley raised Micron Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $160.00 to $220.00 in a report on Monday. Finally, Wedbush increased their price target on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $189.37.

Insider Transactions at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the sale, the executive vice president owned 131,580 shares in the company, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is currently owned by company insiders.

About Micron Technology

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.