German American Bancorp Inc. Buys 2,963 Shares of Micron Technology, Inc. (NASDAQ:MU)

German American Bancorp Inc. raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,643 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,963 shares during the period. German American Bancorp Inc.’s holdings in Micron Technology were worth $6,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Old North State Trust LLC raised its stake in Micron Technology by 91.1% in the third quarter. Old North State Trust LLC now owns 472 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 225 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of Micron Technology by 38.6% during the 3rd quarter. Capital Analysts LLC now owns 575 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 160 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Micron Technology by 2,145.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 696 shares of the semiconductor manufacturer’s stock worth $49,000 after purchasing an additional 665 shares during the last quarter. JJJ Advisors Inc. raised its position in shares of Micron Technology by 173.8% during the 3rd quarter. JJJ Advisors Inc. now owns 783 shares of the semiconductor manufacturer’s stock worth $56,000 after purchasing an additional 497 shares during the last quarter. Finally, Alaethes Wealth LLC acquired a new position in Micron Technology in the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 77.38% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, December 21st. Credit Suisse Group raised their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, December 21st. Wedbush decreased their price target on shares of Micron Technology from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 29th. Summit Insights upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Monday, December 20th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Micron Technology in a report on Wednesday, September 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $111.93.

In other Micron Technology news, SVP Michael W. Bokan sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $93.83, for a total transaction of $1,876,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $82.09, for a total transaction of $681,347.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,300 shares of company stock valued at $3,907,947. Company insiders own 0.32% of the company’s stock.

Shares of MU traded down $0.38 during mid-day trading on Friday, reaching $95.24. The company had a trading volume of 471,789 shares, compared to its average volume of 21,213,668. The company’s 50 day simple moving average is $86.08 and its 200 day simple moving average is $78.09. Micron Technology, Inc. has a 1-year low of $65.67 and a 1-year high of $98.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.36 and a current ratio of 3.10. The company has a market capitalization of $106.65 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.46 and a beta of 1.15.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.68 billion. Micron Technology had a net margin of 24.86% and a return on equity of 19.01%. The firm’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 31st. This represents a $0.40 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is 6.17%.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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