Bessemer Group Inc. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 152.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,144 shares of the semiconductor manufacturer’s stock after buying an additional 3,715 shares during the quarter. Bessemer Group Inc.’s holdings in Micron Technology were worth $195,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JNBA Financial Advisors purchased a new stake in shares of Micron Technology during the 4th quarter worth $28,000. Lavaca Capital LLC purchased a new stake in Micron Technology in the fourth quarter valued at about $29,000. Athena Capital Advisors LLC purchased a new stake in Micron Technology in the fourth quarter valued at about $29,000. Intercontinental Wealth Advisors LLC purchased a new stake in Micron Technology in the fourth quarter valued at about $31,000. Finally, Baystate Wealth Management LLC raised its stake in Micron Technology by 525.0% in the fourth quarter. Baystate Wealth Management LLC now owns 1,000 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 840 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on MU shares. Zacks Investment Research upgraded Micron Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. Bank of America set a $55.00 price target on Micron Technology and gave the company a “buy” rating in a research note on Monday, December 17th. Royal Bank of Canada set a $40.00 price target on Micron Technology and gave the company a “neutral” rating in a research note on Monday, December 31st. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 9th. Finally, KeyCorp decreased their price target on Micron Technology from $73.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, December 10th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $57.26.
Shares of NASDAQ:MU opened at $43.99 on Friday. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $64.66. The stock has a market capitalization of $45.26 billion, a PE ratio of 3.72, a PEG ratio of 0.86 and a beta of 1.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.15.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 48.58% and a net margin of 46.82%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology, Inc. will post 7.39 earnings per share for the current fiscal year.
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Micron Technology Profile
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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