Treasurer of the State of North Carolina Raises Holdings in Micron Technology, Inc. (NASDAQ:MU)

Treasurer of the State of North Carolina lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,246 shares of the semiconductor manufacturer's stock after purchasing an additional 56,930 shares during the quarter. Treasurer of the State of North Carolina owned about 0.05% of Micron Technology worth $47,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Micron Technology in the fourth quarter worth approximately $1,470,875,000. FMR LLC boosted its holdings in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock valued at $189,781,000 after buying an additional 1,742,073 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Micron Technology during the 4th quarter valued at $135,865,000. Finally, Vanguard Group Inc. boosted its stake in shares of Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after buying an additional 888,087 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Micron Technology Trading Down 0.7 %

Shares of NASDAQ MU traded down $0.50 during trading hours on Friday, hitting $69.55. 30,755,036 shares of the company traded hands, compared to its average volume of 23,245,779. The stock has a market capitalization of $77.73 billion, a price-to-earnings ratio of 20.04 and a beta of 1.18. The company's 50 day moving average price is $90.66 and its 200 day moving average price is $97.09. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the firm posted $0.42 EPS. The firm's revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st 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 0.66%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Morgan Stanley upped their price objective on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $129.36.

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.