Forsta AP Fonden Acquires 10,700 Shares of Micron Technology, Inc. (NASDAQ:MU)

Forsta AP Fonden increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 262,100 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,700 shares during the period. Forsta AP Fonden’s holdings in Micron Technology were worth $22,058,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA increased its holdings in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares in the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on MU. KeyCorp dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Barclays reduced their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho decreased their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Down 3.1 %

Shares of MU opened at $88.25 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The business has a 50-day moving average of $98.04 and a 200 day moving average of $100.48. The firm has a market cap of $98.33 billion, a P/E ratio of 25.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by 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.