Forum Financial Management LP Has $2.57 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Forum Financial Management LP increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 108.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,539 shares of the semiconductor manufacturer's stock after acquiring an additional 15,898 shares during the period. Forum Financial Management LP's holdings in Micron Technology were worth $2,570,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MU. Capital International Ltd. CA lifted its stake in shares of Micron Technology by 0.9% in the fourth quarter. Capital International Ltd. CA now owns 32,206 shares of the semiconductor manufacturer's stock worth $2,710,000 after acquiring an additional 303 shares in the last quarter. Capital International Investors raised its position in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Capital International Sarl boosted its stake in shares of Micron Technology by 30.5% during the 4th quarter. Capital International Sarl now owns 77,146 shares of the semiconductor manufacturer's stock valued at $6,493,000 after buying an additional 18,016 shares during the last quarter. Arvest Bank Trust Division grew its position in shares of Micron Technology by 11.0% during the fourth quarter. Arvest Bank Trust Division now owns 229,033 shares of the semiconductor manufacturer's stock worth $19,275,000 after buying an additional 22,631 shares in the last quarter. Finally, Ally Financial Inc. increased its stake in shares of Micron Technology by 11.1% in the fourth quarter. Ally Financial Inc. now owns 20,000 shares of the semiconductor manufacturer's stock worth $1,683,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Price Performance

MU stock traded up $3.35 during trading hours on Wednesday, hitting $73.56. 16,492,080 shares of the stock traded hands, compared to its average volume of 23,194,525. The stock has a 50-day simple moving average of $87.22 and a 200 day simple moving average of $95.43. The company has a market cap of $82.21 billion, a P/E ratio of 21.20 and a beta of 1.18. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during 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 firm's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's 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 completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Barclays lowered their price objective on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Finally, Wedbush restated an "outperform" rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $128.56.

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.