Comerica Bank Has $15.54 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Comerica Bank cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,623 shares of the semiconductor manufacturer's stock after selling 11,517 shares during the quarter. Comerica Bank's holdings in Micron Technology were worth $15,538,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Trivant Custom Portfolio Group LLC lifted its position in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Xcel Wealth Management LLC increased its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Micron Technology by 3.8% during 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 worth $250,000 after buying an additional 108 shares during the last quarter. Twin Capital Management Inc. grew its stake in shares of Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after acquiring an additional 108 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its position 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 during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was 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 in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Up 3.8 %

Micron Technology stock traded up $2.95 during mid-day trading on Friday, hitting $80.72. The stock had a trading volume of 18,886,755 shares, compared to its average volume of 23,326,456. The stock has a market capitalization of $90.21 billion, a PE ratio of 23.26 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $83.63 and a two-hundred day simple moving average of $94.00.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. Micron Technology's dividend payout ratio is presently 11.03%.

Analyst Ratings Changes

Several analysts have issued reports on MU shares. Citigroup decreased their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research note on Monday. Morgan Stanley upped their price target on Micron Technology from $91.00 to $112.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. UBS Group lowered their price objective on Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, KGI Securities raised Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average target price of $127.04.

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.