Factory Mutual Insurance Co. Buys 46,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Factory Mutual Insurance Co. boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 53.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,745 shares of the semiconductor manufacturer's stock after purchasing an additional 46,000 shares during the period. Factory Mutual Insurance Co.'s holdings in Micron Technology were worth $11,088,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $215,000. Caprock Group LLC boosted its stake in shares of Micron Technology by 9.6% during the 4th quarter. Caprock Group LLC now owns 39,075 shares of the semiconductor manufacturer's stock worth $3,293,000 after acquiring an additional 3,422 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Micron Technology by 23.7% during the 4th quarter. Cibc World Market Inc. now owns 389,260 shares of the semiconductor manufacturer's stock worth $32,760,000 after acquiring an additional 74,522 shares during the last quarter. EMC Capital Management purchased a new position in shares of Micron Technology during the 4th quarter worth $194,000. Finally, Crews Bank & Trust purchased a new position in shares of Micron Technology during the 4th quarter worth $59,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of MU opened at $91.24 on Friday. The company has a 50 day moving average price of $97.65 and a 200-day moving average price of $100.35. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a market capitalization of $101.66 billion, a PE ratio of 26.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the prior year, the company earned ($0.95) EPS. The company's revenue was up 84.3% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. Micron Technology's payout ratio is 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a "buy" rating and a $148.00 target price on the stock. Finally, Sanford C. Bernstein reduced their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.96.

Micron Technology 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.

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