Micron Technology, Inc. (NASDAQ:MU) Stock Holdings Boosted by Forsta AP Fonden

Forsta AP Fonden raised its position in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 224,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 23,300 shares during the quarter. Forsta AP Fonden’s holdings in Micron Technology were worth $17,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its stake in shares of Micron Technology by 0.9% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 12,632 shares of the semiconductor manufacturer’s stock worth $1,177,000 after acquiring an additional 111 shares in the last quarter. FineMark National Bank & Trust boosted its position in shares of Micron Technology by 4.0% in the fourth quarter. FineMark National Bank & Trust now owns 3,062 shares of the semiconductor manufacturer’s stock worth $285,000 after buying an additional 119 shares during the period. Vectors Research Management LLC boosted its position in shares of Micron Technology by 60.3% in the fourth quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 140 shares during the period. BDO Wealth Advisors LLC boosted its position in shares of Micron Technology by 46.7% in the first quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 140 shares during the period. Finally, Washington Trust Advisors Inc. boosted its position in shares of Micron Technology by 26.5% in the first quarter. Washington Trust Advisors Inc. now owns 678 shares of the semiconductor manufacturer’s stock worth $53,000 after buying an additional 142 shares during the period. 80.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James decreased their target price on Micron Technology from $115.00 to $72.00 and set a “strong-buy” rating for the company in a research report on Friday, July 1st. BMO Capital Markets decreased their target price on Micron Technology from $115.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, June 27th. Citigroup cut their price objective on Micron Technology from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, July 1st. The Goldman Sachs Group cut their price objective on Micron Technology from $86.00 to $75.00 and set a “buy” rating for the company in a report on Friday, July 1st. Finally, UBS Group cut their price objective on Micron Technology from $115.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.42.

Micron Technology Trading Down 3.7 %

Micron Technology stock opened at $62.46 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.24. The business’s 50-day simple moving average is $61.46 and its 200-day simple moving average is $72.15. The firm has a market capitalization of $68.90 billion, a PE ratio of 7.12, a PEG ratio of 0.59 and a beta of 1.28. Micron Technology, Inc. has a 52 week low of $51.40 and a 52 week high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 8.12 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were paid a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 8th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.74%. Micron Technology’s payout ratio is presently 5.25%.

About Micron Technology

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

Further Reading

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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