German American Bancorp Inc. Buys 212 Shares of Micron Technology, Inc. (NASDAQ:MU)

German American Bancorp Inc. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,206 shares of the semiconductor manufacturer’s stock after purchasing an additional 212 shares during the quarter. Micron Technology comprises 0.9% of German American Bancorp Inc.’s portfolio, making the stock its 29th largest holding. German American Bancorp Inc.’s holdings in Micron Technology were worth $8,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC grew its holdings in shares of Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares in the last quarter. Xcel Wealth Management LLC lifted its position in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 108 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after buying an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

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 Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

NASDAQ MU opened at $68.37 on Tuesday. The firm’s fifty day moving average price is $92.96 and its two-hundred day moving average price is $98.09. The stock has a market cap of $76.41 billion, a PE ratio of 19.70 and a beta of 1.18. 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.

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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.67%. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Analysts Set New Price Targets

Several research firms have weighed in on MU. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Barclays boosted their target price on shares of Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Mizuho decreased their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Stifel Nicolaus cut their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Micron Technology Company 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.