Forum Financial Management LP reduced its holdings in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,888 shares of the semiconductor manufacturer's stock after selling 2,016 shares during the period. Forum Financial Management LP's holdings in Micron Technology were worth $495,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MU. Arete Wealth Advisors LLC boosted its stake in shares of Micron Technology by 144.7% in the third quarter. Arete Wealth Advisors LLC now owns 15,731 shares of the semiconductor manufacturer's stock worth $788,000 after acquiring an additional 9,301 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in shares of Micron Technology in the third quarter worth approximately $120,000. Yacktman Asset Management LP boosted its stake in shares of Micron Technology by 1.4% in the third quarter. Yacktman Asset Management LP now owns 695,208 shares of the semiconductor manufacturer's stock worth $34,830,000 after acquiring an additional 9,602 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Micron Technology by 4.9% in the third quarter. Spire Wealth Management now owns 4,991 shares of the semiconductor manufacturer's stock worth $250,000 after acquiring an additional 235 shares during the last quarter. Finally, Level Four Advisory Services LLC boosted its stake in shares of Micron Technology by 5.7% in the third quarter. Level Four Advisory Services LLC now owns 70,506 shares of the semiconductor manufacturer's stock worth $3,532,000 after acquiring an additional 3,777 shares during the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.
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Insider Buying and Selling
In related news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $62.23, for a total transaction of $1,244,600.00. Following the completion of the transaction, the executive vice president now directly owns 248,340 shares of the company's stock, valued at approximately $15,454,198.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Robert P. Beard sold 3,000 shares of the company's stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $61.25, for a total transaction of $183,750.00. Following the completion of the transaction, the senior vice president now directly owns 42,840 shares of the company's stock, valued at approximately $2,623,950. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $62.23, for a total value of $1,244,600.00. Following the transaction, the executive vice president now directly owns 248,340 shares of the company's stock, valued at $15,454,198.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
Micron Technology Trading Up 1.7 %
Shares of NASDAQ MU opened at $63.87 on Friday. Micron Technology, Inc. has a twelve month low of $48.43 and a twelve month high of $96.50. The stock has a market capitalization of $69.69 billion, a PE ratio of 11.59 and a beta of 1.30. The company has a current ratio of 3.51, a quick ratio of 2.23 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $55.16 and a 200-day simple moving average of $56.42.
Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Micron Technology had a return on equity of 13.26% and a net margin of 22.78%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The company's revenue for the quarter was down 46.9% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post -2.51 earnings per share for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Tuesday, January 3rd were paid a dividend of $0.115 per share. The ex-dividend date was Friday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.72%. Micron Technology's payout ratio is 8.35%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Micron Technology from a "buy" rating to a "hold" rating and lowered their price target for the stock from $60.00 to $55.00 in a research note on Monday, December 12th. BMO Capital Markets reduced their price objective on Micron Technology from $80.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, September 30th. Morgan Stanley reduced their price objective on Micron Technology from $49.00 to $46.00 and set an "underweight" rating on the stock in a research report on Thursday, December 22nd. Mizuho reduced their price objective on Micron Technology from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, December 22nd. Finally, The Goldman Sachs Group reduced their price objective on Micron Technology to $62.00 in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.21.
Micron Technology Profile
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Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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