Seaview Investment Managers LLC Has $8.92 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Seaview Investment Managers LLC grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3,190.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,014 shares of the semiconductor manufacturer's stock after acquiring an additional 102,792 shares during the quarter. Micron Technology accounts for about 2.5% of Seaview Investment Managers LLC's holdings, making the stock its 27th largest position. Seaview Investment Managers LLC's holdings in Micron Technology were worth $8,922,000 at the end of the most recent reporting period.

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

Micron Technology Stock Up 3.8 %

Shares of NASDAQ:MU traded up $2.67 during mid-day trading on Wednesday, reaching $72.88. 26,300,409 shares of the stock were exchanged, compared to its average volume of 23,230,303. The company has a market cap of $81.44 billion, a P/E ratio of 21.00 and a beta of 1.18. The stock's 50 day simple moving average is $87.22 and its 200-day simple moving average is $95.43. 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 one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Activity

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The shares were 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 $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. Wells Fargo & Company reduced their price objective on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Citigroup reduced 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 report on Friday, April 11th. Finally, Barclays lowered their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $128.56.

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.