Forsta AP Fonden Has $22.06 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Forsta AP Fonden increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 262,100 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,700 shares during the quarter. Forsta AP Fonden’s holdings in Micron Technology were worth $22,058,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $26,000. Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter worth approximately $30,000. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC increased its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 3.1 %

Micron Technology stock opened at $88.25 on Wednesday. The company has a market cap of $98.33 billion, a price-to-earnings ratio of 25.43 and a beta of 1.18. The firm has a 50-day moving average of $98.04 and a 200-day moving average of $100.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. On average, equities analysts expect that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is currently 13.26%.

Analysts Set New Price Targets

A number of brokerages have commented on MU. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. China Renaissance started coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.

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.