State of New Jersey Common Pension Fund D Sells 1,133 Shares of Micron Technology, Inc. (NASDAQ:MU)

State of New Jersey Common Pension Fund D lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 406,923 shares of the semiconductor manufacturer’s stock after selling 1,133 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Micron Technology were worth $34,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Sierra Ocean LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $65,000. JFS Wealth Advisors LLC raised its holdings in shares of Micron Technology by 20.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,681 shares of the semiconductor manufacturer’s stock worth $141,000 after purchasing an additional 285 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Micron Technology by 1.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 17,533 shares of the semiconductor manufacturer’s stock valued at $1,476,000 after acquiring an additional 329 shares during the period. Csenge Advisory Group raised its holdings in Micron Technology by 56.4% during the 4th quarter. Csenge Advisory Group now owns 5,500 shares of the semiconductor manufacturer’s stock valued at $463,000 after acquiring an additional 1,983 shares during the period. Finally, Palouse Capital Management Inc. bought a new stake in Micron Technology during the 4th quarter valued at $1,103,000. Institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $99.52 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $110.88 billion, a PE ratio of 28.68 and a beta of 1.18. The firm has a fifty day simple moving average of $96.10 and a two-hundred day simple moving average of $98.62. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54.

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

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Finally, The Goldman Sachs Group reduced their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.