German American Bancorp Inc. Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

German American Bancorp Inc. lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,994 shares of the semiconductor manufacturer's stock after acquiring an additional 6,594 shares during the period. Micron Technology makes up about 1.1% of German American Bancorp Inc.'s holdings, making the stock its 24th largest holding. German American Bancorp Inc.'s holdings in Micron Technology were worth $10,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, September 18th. Morgan Stanley upped their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a report on Thursday, September 26th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.04.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.32% of the company's stock.

Micron Technology Stock Up 4.5 %

Shares of NASDAQ MU traded up $4.39 during trading on Thursday, reaching $102.76. The company had a trading volume of 18,774,564 shares, compared to its average volume of 21,550,215. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business's 50-day moving average is $101.93 and its 200 day moving average is $112.42. The stock has a market cap of $113.93 billion, a PE ratio of 145.21 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating 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 analysts' expectations of $7.65 billion. During the same quarter in the prior year, the company posted ($1.21) earnings per share. The business's revenue for the quarter was up 93.3% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology's dividend payout ratio is 67.65%.

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.