Commerzbank Aktiengesellschaft FI Purchases 2,152 Shares of Micron Technology, Inc. (NASDAQ:MU)

Commerzbank Aktiengesellschaft FI grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 26.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,389 shares of the semiconductor manufacturer’s stock after buying an additional 2,152 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Micron Technology were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the fourth quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the first quarter worth $33,000. Hurley Capital LLC bought a new stake in shares of Micron Technology in the fourth quarter worth $37,000. Roxbury Financial LLC lifted its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after buying an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $113.26 on Friday. The stock has a market cap of $126.75 billion, a PE ratio of 20.41 and a beta of 1.35. The company’s fifty day moving average is $110.82 and its 200 day moving average is $96.72. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the firm earned $0.62 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s payout ratio is 8.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MU shares. Robert W. Baird increased their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Raymond James Financial increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, June 26th. Bank of America increased their price objective on shares of Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Wells Fargo & Company increased their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. Finally, Citigroup increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.44.

Insider Activity

In related news, Director Steven J. Gomo sold 7,000 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares of the company’s stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by company 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.