State of New Jersey Common Pension Fund D Has $32.68 Million Stake in Micron Technology, Inc. $MU

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Micron Technology by 7.6%, holding 376,053 shares valued at $32.68 million after selling 30,870 shares in the first quarter.
• Micron Technology's recent quarterly earnings exceeded expectations, reporting $1.91 EPS compared to an estimate of $1.57, with revenues of $9.30 billion.
• Wall Street analysts have significantly raised their price targets for Micron Technology, with projections ranging from $130 to $200, reflecting positive market sentiment towards its growth prospects.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,053 shares of the semiconductor manufacturer's stock after selling 30,870 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Micron Technology were worth $32,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at approximately $33,000. Roxbury Financial LLC boosted its stake in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology during the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

Shares of MU traded down $1.43 during midday trading on Tuesday, hitting $122.12. 8,470,718 shares of the stock traded hands, compared to its average volume of 22,967,088. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The firm has a market capitalization of $136.67 billion, a PE ratio of 22.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The business's 50 day moving average price is $118.27 and its two-hundred day moving average price is $99.40.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the previous year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's payout ratio is 8.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MU. Barclays increased their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Morgan Stanley lifted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Susquehanna lifted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group assumed coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. This trade represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 in the last quarter. 0.30% of the stock is owned by company insiders.

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.