40,954 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 40,954 shares of the semiconductor manufacturer's stock, valued at approximately $4,247,000.

A number of other hedge funds have also recently made changes to their positions in the business. Bessemer Group Inc. raised its position in Micron Technology by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer's stock valued at $1,489,000 after buying an additional 340 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Micron Technology in the first quarter valued at about $41,000. CreativeOne Wealth LLC lifted its position in shares of Micron Technology by 22.3% during the first quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer's stock valued at $573,000 after purchasing an additional 886 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Micron Technology by 16.5% during the first quarter. EP Wealth Advisors LLC now owns 11,662 shares of the semiconductor manufacturer's stock worth $1,375,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Micron Technology by 255.0% during the first quarter. Axxcess Wealth Management LLC now owns 12,767 shares of the semiconductor manufacturer's stock worth $1,505,000 after purchasing an additional 9,171 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. KeyCorp dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 8th. Rosenblatt Securities lifted their price target on Micron Technology from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Citigroup reduced their price objective on Micron Technology from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Morgan Stanley lifted their target price on Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $143.04.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company's stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by insiders.

Micron Technology Stock Up 0.7 %

MU opened at $98.37 on Thursday. The firm has a market capitalization of $109.07 billion, a P/E ratio of 144.66 and a beta of 1.18. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The company has a fifty day moving average price of $101.93 and a 200-day moving average price of $112.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm earned ($1.21) EPS. The business's revenue for the quarter was up 93.3% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology's payout ratio is 67.65%.

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.