Micron Technology, Inc. (NASDAQ:MU) Stock Position Lifted by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Micron Technology by 4.1%, acquiring an additional 150,590 shares in the first quarter, bringing total ownership to approximately 3.81 million shares valued at $331.4 million.
• Multiple institutional investors have boosted their stakes in Micron, notably Bessemer Group Inc., which increased its holdings by 40.1%, underscoring strong institutional interest in the semiconductor manufacturer.
• Micron Technology's stock recently reached $118.89 and has shown robust performance, with a quarterly earnings report indicating $1.91 earnings per share, exceeding analysts' estimates by $0.34.

Deutsche Bank AG grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,813,960 shares of the semiconductor manufacturer's stock after buying an additional 150,590 shares during the quarter. Deutsche Bank AG owned 0.34% of Micron Technology worth $331,395,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Capital World Investors increased its position in Micron Technology by 63.7% during the 4th 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 in the last quarter. Capital Research Global Investors increased its position in Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Capital International Investors grew its holdings in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Micron Technology by 198.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock valued at $550,903,000 after buying an additional 4,352,225 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock worth $34,679,277 over the last 90 days. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MU. JPMorgan Chase & Co. lifted their price target on Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Wells Fargo & Company lifted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays lifted their price target on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. TD Cowen lifted their price target on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Susquehanna lifted their price target on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Stock Performance

Shares of MU stock traded up $3.07 on Monday, hitting $121.96. 17,972,662 shares of the stock traded hands, compared to its average volume of 23,120,688. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market capitalization of $136.48 billion, a PE ratio of 21.98 and a beta of 1.37. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The company's fifty day moving average is $115.95 and its 200 day moving average is $98.07.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for 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 period in the prior year, the company posted $0.62 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

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.