Commerce Bank Buys 2,068 Shares of Micron Technology, Inc. (NASDAQ:MU)

Commerce Bank raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,417 shares of the semiconductor manufacturer’s stock after buying an additional 2,068 shares during the quarter. Commerce Bank’s holdings in Micron Technology were worth $5,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Atria Investments Inc increased its stake in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC increased its holdings in shares of Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the period. Ameritas Advisory Services LLC increased its holdings in shares of Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the period. LRI Investments LLC lifted its holdings in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Finally, E&G Advisors LP boosted its position in Micron Technology by 5.2% in the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 100 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. KeyCorp reduced their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Rosenblatt Securities increased their target price on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Susquehanna dropped their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. TD Cowen lifted their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $102.43 on Friday. The business’s 50-day simple moving average is $102.23 and its 200 day simple moving average is $112.35. The company has a market cap of $113.57 billion, a P/E ratio of 150.63 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 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.