Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,641 shares of the semiconductor manufacturer’s stock after selling 271 shares during the quarter. Forum Financial Management LP’s holdings in Micron Technology were worth $1,518,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MU. RWQ Financial Management Services Inc. acquired a new position in Micron Technology in the 3rd quarter valued at about $1,270,000. BSW Wealth Partners raised its position in shares of Micron Technology by 20.5% during the 3rd quarter. BSW Wealth Partners now owns 4,457 shares of the semiconductor manufacturer’s stock valued at $462,000 after buying an additional 759 shares during the period. Van ECK Associates Corp lifted its holdings in Micron Technology by 30.6% in the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares during the last quarter. Whitener Capital Management Inc. lifted its holdings in Micron Technology by 5.1% in the third quarter. Whitener Capital Management Inc. now owns 3,480 shares of the semiconductor manufacturer’s stock valued at $361,000 after acquiring an additional 170 shares during the last quarter. Finally, Empire Life Investments Inc. purchased a new position in Micron Technology in the third quarter worth approximately $11,517,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $99.73 on Monday. The company has a fifty day moving average of $98.94 and a two-hundred day moving average of $113.18. The company has a market capitalization of $110.57 billion, a PE ratio of 146.66 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $69.75 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MU. Rosenblatt Securities lifted their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Robert W. Baird cut their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.04.

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.