Micron Technology, Inc. $MU Shares Sold by Forum Financial Management LP

Forum Financial Management LP lowered its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 40.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,586 shares of the semiconductor manufacturer’s stock after selling 11,955 shares during the quarter. Forum Financial Management LP’s holdings in Micron Technology were worth $5,019,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 52 shares during the period. Noble Wealth Management PBC purchased a new stake in Micron Technology during the fourth quarter worth about $40,000. Finally, REAP Financial Group LLC purchased a new stake in Micron Technology during the third quarter worth about $25,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

Micron Technology Stock Down 0.5%

MU stock opened at $455.07 on Friday. The company’s 50 day moving average price is $406.41 and its 200 day moving average price is $318.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a fifty-two week low of $65.64 and a fifty-two week high of $471.34. The firm has a market capitalization of $513.20 billion, a price-to-earnings ratio of 21.49 and a beta of 1.60.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s payout ratio is currently 2.83%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Manish H. Bhatia sold 26,623 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $391.04, for a total transaction of $10,410,657.92. Following the sale, the executive vice president owned 323,486 shares in the company, valued at $126,495,965.44. The trade was a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 115,623 shares of company stock worth $45,165,908. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent research reports. Needham & Company LLC boosted their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Morgan Stanley boosted their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. TD Cowen boosted their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $464.61.

Read Our Latest Analysis on MU

About Micron Technology

(Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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