State of Michigan Retirement System Purchases 33,700 Shares of Micron Technology, Inc. $MU

State of Michigan Retirement System increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 371,442 shares of the semiconductor manufacturer’s stock after purchasing an additional 33,700 shares during the quarter. State of Michigan Retirement System’s holdings in Micron Technology were worth $45,780,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Command Advisory Services Inc. lifted its stake in shares of Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. AllSquare Wealth Management LLC lifted 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 worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the 1st quarter worth $36,000. Finally, Hilltop National Bank purchased a new stake in shares of Micron Technology during the 2nd quarter worth $37,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. UBS Group upped their price objective on Micron Technology from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial increased their price target on Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Needham & Company LLC increased their price target on Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley upgraded Micron Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $160.00 to $220.00 in a research note on Monday, October 6th. Finally, Rosenblatt Securities increased their price target on Micron Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $202.79.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 10,602 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $225.23, for a total transaction of $2,387,888.46. Following the sale, the chief executive officer directly owned 409,078 shares of the company’s stock, valued at $92,136,637.94. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott R. Allen sold 8,800 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $210.02, for a total value of $1,848,176.00. Following the sale, the chief accounting officer directly owned 40,237 shares in the company, valued at approximately $8,450,574.74. This trade represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 271,256 shares of company stock valued at $53,931,979 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Down 0.1%

Shares of MU stock opened at $223.77 on Friday. The stock’s 50-day simple moving average is $169.83 and its 200-day simple moving average is $128.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a market capitalization of $251.18 billion, a PE ratio of 29.48, a P/E/G ratio of 0.51 and a beta of 1.56. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $232.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.86. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company’s revenue was up 46.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

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.