Forsta AP Fonden Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Forsta AP Fonden grew its position in Micron Technology, Inc. (NASDAQ:MU) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,200 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,000 shares during the quarter. Forsta AP Fonden’s holdings in Micron Technology were worth $31,857,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in Micron Technology in the 4th quarter valued at about $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter valued at approximately $25,000. Pingora Partners LLC bought a new position in Micron Technology in the fourth quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the second quarter worth $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at $29,000. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price objective on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. UBS Group decreased their price target on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. The Goldman Sachs Group raised their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Citigroup boosted their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Bank of America increased their target price on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Micron Technology Stock Up 4.4 %

Shares of MU stock opened at $90.65 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $63.83 and a twelve month high of $157.54. The stock has a 50 day moving average of $105.98 and a 200 day moving average of $114.87. The stock has a market cap of $100.52 billion, a P/E ratio of -63.84 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the business earned ($1.57) earnings per share. The firm’s revenue was up 81.5% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio is currently -32.39%.

About Micron Technology

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.