State of Tennessee Department of Treasury Has $35.95 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

State of Tennessee Department of Treasury lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,121 shares of the semiconductor manufacturer's stock after buying an additional 6,618 shares during the quarter. State of Tennessee Department of Treasury's holdings in Micron Technology were worth $35,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. SOA Wealth Advisors LLC. boosted its position in shares of Micron Technology by 37.6% in the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer's stock valued at $123,000 after acquiring an additional 325 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Micron Technology by 3.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer's stock valued at $694,000 after purchasing an additional 241 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Micron Technology by 524.2% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 14,863 shares of the semiconductor manufacturer's stock valued at $1,541,000 after purchasing an additional 12,482 shares during the period. World Investment Advisors LLC grew its position in Micron Technology by 103.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,315 shares of the semiconductor manufacturer's stock worth $344,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new position in shares of Micron Technology during the 3rd quarter worth about $21,406,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Rosenblatt Securities dropped their price target on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Morgan Stanley increased their target price on Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.56.

Insider Buying and Selling at Micron Technology

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

Micron Technology Trading Up 3.0 %

MU traded up $2.36 during mid-day trading on Friday, hitting $79.78. The stock had a trading volume of 19,700,622 shares, compared to its average volume of 23,251,611. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock's fifty day simple moving average is $86.25 and its 200-day simple moving average is $95.10. The firm has a market capitalization of $89.16 billion, a price-to-earnings ratio of 22.99 and a beta of 1.18.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.58%. Micron Technology's payout ratio is 11.03%.

Micron Technology Company 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.