State of Alaska Department of Revenue Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

State of Alaska Department of Revenue boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.3% in the 4th quarter, HoldingsChannel reports. The fund owned 152,422 shares of the semiconductor manufacturer’s stock after buying an additional 23,560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Micron Technology were worth $12,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Adero Partners LLC grew its holdings in shares of Micron Technology by 9.1% in the fourth quarter. Adero Partners LLC now owns 3,183 shares of the semiconductor manufacturer’s stock worth $268,000 after purchasing an additional 266 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Micron Technology by 6.9% in the 4th quarter. Bleakley Financial Group LLC now owns 50,887 shares of the semiconductor manufacturer’s stock worth $4,283,000 after acquiring an additional 3,268 shares during the last quarter. Deltec Asset Management LLC increased its position in shares of Micron Technology by 135.0% in the fourth quarter. Deltec Asset Management LLC now owns 70,752 shares of the semiconductor manufacturer’s stock valued at $5,954,000 after acquiring an additional 40,650 shares during the period. Confluence Wealth Services Inc. raised its stake in shares of Micron Technology by 81.2% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,704 shares of the semiconductor manufacturer’s stock valued at $312,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 2.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer’s stock worth $691,000 after purchasing an additional 204 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $93.60 on Thursday. The company has a market capitalization of $104.29 billion, a price-to-earnings ratio of 26.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The company’s 50-day moving average is $96.91 and its 200 day moving average is $99.38.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.95) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Robert W. Baird lowered their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Mizuho dropped their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Morgan Stanley reduced their price objective on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research report on Wednesday, December 18th. Finally, Piper Sandler cut their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.96.

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.