German American Bancorp Inc. Purchases 2,399 Shares of Micron Technology, Inc. (NASDAQ:MU)

German American Bancorp Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MUFree Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,680 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,399 shares during the quarter. Micron Technology makes up 1.0% of German American Bancorp Inc.’s portfolio, making the stock its 25th biggest position. German American Bancorp Inc.’s holdings in Micron Technology were worth $7,397,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the 3rd quarter worth about $28,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology during the 3rd quarter valued at about $27,000. VisionPoint Advisory Group LLC grew its stake in shares of Micron Technology by 68.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 198 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Micron Technology by 51.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Finally, Clear Street Markets LLC grew its stake in shares of Micron Technology by 67.5% during the 3rd quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 251 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $80.44, for a total value of $563,080.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,446 shares of company stock valued at $47,867,783. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 2.0 %

Micron Technology stock traded down $2.60 during mid-day trading on Friday, hitting $125.29. The company’s stock had a trading volume of 13,774,737 shares, compared to its average volume of 16,998,132. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a 50 day moving average of $114.70 and a 200-day moving average of $93.53. Micron Technology, Inc. has a one year low of $60.50 and a one year high of $130.54. The stock has a market cap of $138.74 billion, a PE ratio of -36.32 and a beta of 1.27.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the firm earned ($2.03) earnings per share. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Piper Sandler lifted their price objective on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Wedbush boosted their price target on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.64.

Check Out Our Latest Stock Analysis on Micron Technology

About Micron Technology

(Free Report)

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.

See Also

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

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