Deutsche Bank AG Acquires 559,081 Shares of Micron Technology, Inc. (NASDAQ:MU)

Deutsche Bank AG grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 18.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,663,370 shares of the semiconductor manufacturer’s stock after purchasing an additional 559,081 shares during the quarter. Deutsche Bank AG owned about 0.33% of Micron Technology worth $308,309,000 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 boosted its holdings in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Activest Wealth Management increased its position in shares of Micron Technology by 583.3% during 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 purchased a new position in Micron Technology in the 4th quarter worth approximately $34,000. Finally, Curio Wealth LLC bought a new stake in Micron Technology in the 4th quarter worth about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at approximately $1,996,320. This represents a 8.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock worth $1,858,424 over the last quarter. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 3.0 %

Micron Technology stock opened at $85.10 on Friday. The company has a market capitalization of $95.11 billion, a P/E ratio of 24.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. The stock has a 50-day simple moving average of $82.73 and a 200-day simple moving average of $93.22.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MU shares. Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Morgan Stanley lowered their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, UBS Group dropped their price target on Micron Technology from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.48.

Micron Technology Profile

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.