DekaBank Deutsche Girozentrale Has $84.57 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

DekaBank Deutsche Girozentrale lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 980,785 shares of the semiconductor manufacturer's stock after selling 23,578 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.09% of Micron Technology worth $84,569,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer's stock worth $8,403,982,000 after acquiring an additional 888,087 shares during the period. FMR LLC grew its stake in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the period. Capital World Investors grew its stake in Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the period. Geode Capital Management LLC grew its stake in Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock worth $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $1,470,875,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Down 1.8%

NASDAQ:MU traded down $2.18 on Wednesday, hitting $122.24. 20,428,033 shares of the stock were exchanged, compared to its average volume of 23,302,728. The stock has a market cap of $136.80 billion, a PE ratio of 22.03 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $105.34 and a 200-day moving average of $95.26. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $136.50.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the firm earned $0.62 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is 8.29%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Rosenblatt Securities increased their target price on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Raymond James Financial raised their price target on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wells Fargo & Company raised their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Citigroup raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $146.21.

Insider Buying and Selling at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the sale, the executive vice president owned 186,353 shares of the company's stock, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,446 shares of company stock valued at $31,154,717. 0.30% of the stock is currently owned by insiders.

About Micron Technology

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.