Commerce Bank Sells 415 Shares of Micron Technology, Inc. (NASDAQ:MU)

Commerce Bank decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,417 shares of the semiconductor manufacturer’s stock after selling 415 shares during the period. Commerce Bank’s holdings in Micron Technology were worth $6,062,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock valued at $8,106,001,000 after acquiring an additional 755,588 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares during the period. Wellington Management Group LLP raised its position in shares of Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Capital International Investors lifted its position in Micron Technology by 2.3% during the fourth quarter. Capital International Investors now owns 15,905,621 shares of the semiconductor manufacturer’s stock valued at $1,357,392,000 after buying an additional 363,902 shares during the period. Finally, Norges Bank purchased a new stake in shares of Micron Technology in the 4th quarter worth approximately $769,372,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MU shares. Wells Fargo & Company upped their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Wolfe Research boosted their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Barclays raised their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.72.

Micron Technology Trading Down 1.5 %

NASDAQ MU opened at $134.40 on Thursday. The firm has a market capitalization of $149.03 billion, a PE ratio of -96.05 and a beta of 1.18. The business’s 50-day moving average price is $131.48 and its two-hundred day moving average price is $109.14. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $61.75 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the business posted ($1.57) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the sale, the senior vice president now owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $86,789,214.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,730 shares of company stock worth $31,063,449. 0.32% of the stock is owned by company insiders.

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.