Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 40.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,447 shares of the semiconductor manufacturer's stock after acquiring an additional 5,276 shares during the quarter. Bessemer Group Inc.'s holdings in Micron Technology were worth $1,552,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MU. E Fund Management Co. Ltd. raised its position in Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after purchasing an additional 4,264 shares during the last quarter. Stablepoint Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $569,000. Landscape Capital Management L.L.C. raised its stake in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after buying an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Micron Technology by 11.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock worth $42,280,000 after acquiring an additional 52,729 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Down 2.8 %

Shares of MU traded down $1.97 during mid-day trading on Thursday, reaching $67.36. 8,991,548 shares of the stock traded hands, compared to its average volume of 24,832,105. The firm has a market cap of $75.28 billion, a price-to-earnings ratio of 19.41 and a beta of 1.18. The stock has a fifty day simple moving average of $89.28 and a 200 day simple moving average of $96.38. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm earned $0.42 earnings per share. The company's revenue was up 38.2% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.68%. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. Royal Bank of Canada set a $125.00 price target on Micron Technology in a report on Wednesday, March 19th. Citigroup cut their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Barclays upped their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Rosenblatt Securities reduced their target price on Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, KGI Securities upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $129.36.

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.