Forsta AP Fonden Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Forsta AP Fonden raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 251,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,200 shares during the quarter. Forsta AP Fonden’s holdings in Micron Technology were worth $26,073,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Clearbridge Investments LLC boosted its stake in Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Global X Japan Co. Ltd. increased its holdings in Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock valued at $5,375,000 after acquiring an additional 9,735 shares during the last quarter. Chapin Davis Inc. purchased a new stake in Micron Technology in the 2nd quarter worth $4,056,000. Handelsbanken Fonder AB boosted its holdings in shares of Micron Technology by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after purchasing an additional 9,992 shares during the last quarter. Finally, Kempner Capital Management Inc. increased its holdings in shares of Micron Technology by 16.8% in the third quarter. Kempner Capital Management Inc. now owns 94,192 shares of the semiconductor manufacturer’s stock worth $9,769,000 after purchasing an additional 13,581 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Morgan Stanley lifted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Bank of America boosted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Performance

Shares of MU stock traded up $1.06 on Friday, hitting $107.91. The company had a trading volume of 12,264,950 shares, compared to its average volume of 22,081,268. The firm has a market cap of $119.66 billion, a P/E ratio of -75.99 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The company has a 50-day moving average price of $99.23 and a 200-day moving average price of $114.05. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.21) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

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.