Retirement Solution Inc. Purchases Shares of 6,879 Micron Technology, Inc. (NASDAQ:MU)

Retirement Solution Inc. purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,879 shares of the semiconductor manufacturer’s stock, valued at approximately $587,000. Micron Technology accounts for approximately 0.2% of Retirement Solution Inc.’s investment portfolio, making the stock its 25th biggest holding.

A number of other large investors have also made changes to their positions in MU. FMR LLC lifted its position in shares of Micron Technology by 47.9% during the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after purchasing an additional 5,257,201 shares in the last quarter. Morgan Stanley lifted its holdings in Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Micron Technology by 125.0% in the 4th quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares in the last quarter. Finally, Phoenix Holdings Ltd. lifted its holdings in Micron Technology by 8,336.6% in the 3rd quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock worth $117,762,000 after purchasing an additional 1,753,262 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Wedbush upped their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. UBS Group upped their price objective on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Cantor Fitzgerald upped their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Mizuho upped their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total value of $609,140.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $68,620,230.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,890 shares of company stock valued at $33,005,157. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.6 %

Shares of NASDAQ MU traded down $0.68 during mid-day trading on Wednesday, reaching $111.78. 20,454,959 shares of the company were exchanged, compared to its average volume of 20,588,799. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $123.78 billion, a price-to-earnings ratio of -32.40 and a beta of 1.27. Micron Technology, Inc. has a 1 year low of $58.03 and a 1 year high of $130.54. The firm has a 50-day moving average of $104.64 and a 200 day moving average of $87.69.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business posted ($2.03) earnings per share. The firm’s revenue was up 57.7% compared to the same quarter last year. On average, research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

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.