B. Metzler seel. Sohn & Co. Holding AG Makes New $4.25 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,954 shares of the semiconductor manufacturer’s stock, valued at approximately $4,247,000.

Other large investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Richard W. Paul & Associates LLC lifted its position in shares of 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 buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MU. China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Susquehanna reduced their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Price Performance

MU stock opened at $98.37 on Thursday. The business’s fifty day moving average price is $101.93 and its 200 day moving average price is $112.42. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $109.07 billion, a PE ratio of 144.66 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio is presently 67.65%.

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.