Sei Investments Co. Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

Sei Investments Co. decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,203 shares of the semiconductor manufacturer's stock after selling 92,395 shares during the quarter. Sei Investments Co.'s holdings in Micron Technology were worth $26,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock worth $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $135,865,000. State Street Corp lifted its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in Micron Technology by 254.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the period. Finally, Bridgewater Associates LP purchased a new stake in Micron Technology in the third quarter worth $102,018,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

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Micron Technology Trading Down 3.6 %

Shares of NASDAQ MU traded down $3.30 during midday trading on Friday, reaching $87.86. The company had a trading volume of 8,308,935 shares, compared to its average volume of 22,834,414. The stock has a market cap of $98.19 billion, a PE ratio of 25.27 and a beta of 1.23. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The firm's fifty day moving average price is $96.35 and its 200-day moving average price is $98.36. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business's revenue was up 38.2% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Citigroup cut their price objective on shares of Micron Technology from $150.00 to $120.00 and set a "buy" rating for the company in a report on Friday, March 21st. Bank of America cut shares of Micron Technology from a "buy" rating to a "neutral" rating and lowered their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.76.

Insiders Place Their Bets

In other Micron Technology news, 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 transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on 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 approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

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.