State of New Jersey Common Pension Fund D Buys 5,953 Shares of Micron Technology, Inc. (NASDAQ:MU)

State of New Jersey Common Pension Fund D grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 625,718 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,953 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Micron Technology worth $53,399,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Micron Technology in the third quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth approximately $28,000. VisionPoint Advisory Group LLC raised its holdings in shares of Micron Technology by 68.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. lifted its stake in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. Finally, Clear Street Markets LLC grew its holdings in Micron Technology by 67.5% during the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 2.9 %

NASDAQ:MU traded up $3.26 during trading hours on Friday, reaching $114.84. 20,612,299 shares of the company traded hands, compared to its average volume of 20,562,373. The stock has a market capitalization of $127.17 billion, a P/E ratio of -32.79 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $59.55 and a 1 year high of $130.54. The business’s 50-day moving average price is $105.24 and its two-hundred day moving average price is $87.85.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MU shares. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Thursday, March 21st. KeyCorp lifted their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Raymond James upped their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s 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 sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 268,890 shares of company stock worth $29,738,667 in the last ninety days. Insiders own 0.32% of the company’s stock.

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.