Formidable Asset Management LLC Has $430,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Formidable Asset Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,107 shares of the semiconductor manufacturer’s stock after purchasing an additional 325 shares during the period. Formidable Asset Management LLC’s holdings in Micron Technology were worth $430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beacon Capital Management LLC grew its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $33,000. Activest Wealth Management grew its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Micron Technology in the fourth quarter valued at about $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Wall Street Zen downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Saturday. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Micron Technology in a research report on Monday, April 28th. Finally, UBS Group cut their price objective on shares of Micron Technology from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $126.48.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,808 shares of company stock worth $1,858,424. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Down 1.5%

Shares of NASDAQ MU opened at $93.37 on Friday. The company has a 50 day simple moving average of $82.82 and a 200 day simple moving average of $92.34. The firm has a market cap of $104.35 billion, a PE ratio of 26.91 and a beta of 1.21. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $157.54. 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 (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is 11.03%.

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.