Commerzbank Aktiengesellschaft FI Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 34.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,998 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,782 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Micron Technology were worth $726,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the 1st quarter worth approximately $25,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $28,000. Valued Wealth Advisors LLC grew its position in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares in the last quarter. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter valued at approximately $30,000. Finally, Richard W. Paul & Associates LLC boosted its position in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 2.6 %

Shares of Micron Technology stock opened at $105.05 on Thursday. The stock’s fifty day moving average is $99.23 and its 200-day moving average is $114.10. The firm has a market capitalization of $116.48 billion, a PE ratio of -73.98 and a beta of 1.18. 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, Inc. has a 12-month low of $63.88 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company 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%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.21) earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, UBS Group reduced their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.85.

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.