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

Forum Financial Management LP increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 108.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,539 shares of the semiconductor manufacturer's stock after purchasing an additional 15,898 shares during the period. Forum Financial Management LP's holdings in Micron Technology were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC purchased a new position in Micron Technology during the fourth quarter valued at $26,000. Beacon Capital Management LLC boosted its holdings in Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $33,000. Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Micron Technology in the fourth quarter valued at approximately $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 0.2%

Shares of Micron Technology stock traded up $0.17 during trading hours on Wednesday, reaching $96.55. 4,513,452 shares of the company's stock were exchanged, compared to its average volume of 23,418,813. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The company has a fifty day moving average of $82.52 and a 200-day moving average of $92.10. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $107.90 billion, a price-to-earnings ratio of 27.83 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.48%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock worth $1,858,424 in the last quarter. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a research note on Monday, April 28th. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. UBS Group dropped their price objective on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 28th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $126.48.

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.