FORA Capital LLC Purchases New Holdings in Micron Technology, Inc. (NASDAQ:MU)

FORA Capital LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,711 shares of the semiconductor manufacturer's stock, valued at approximately $396,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Micron Technology by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after purchasing an additional 888,087 shares during the period. FMR LLC grew its position in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors grew its position in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC grew its position in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank bought a new stake in Micron Technology in the 4th quarter worth approximately $1,470,875,000. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated 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 owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. 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 90 days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

MU stock traded up $0.71 during mid-day trading on Friday, hitting $85.86. The company had a trading volume of 13,006,441 shares, compared to its average volume of 23,325,824. The company has a market capitalization of $95.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.21. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $82.62 and a 200 day moving average price of $92.89.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Rosenblatt Securities cut their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Citigroup dropped their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. China Renaissance cut shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock 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.