Sei Investments Co. Has $26.69 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sei Investments Co. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trivant Custom Portfolio Group LLC grew its holdings in Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC lifted its holdings in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the last quarter. Lebenthal Global Advisors LLC increased its holdings in Micron Technology by 1.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 114 shares during the period. Finally, Register Financial Advisors LLC raised its position in Micron Technology by 1.1% during the 4th quarter. Register Financial Advisors LLC now owns 11,526 shares of the semiconductor manufacturer’s stock worth $970,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MU shares. Needham & Company LLC reduced their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley increased their target price on shares of Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Stifel Nicolaus dropped their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.63.

Micron Technology Trading Down 2.8 %

MU opened at $94.18 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The firm has a market capitalization of $104.93 billion, a PE ratio of 27.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company’s 50-day moving average is $96.80 and its 200 day moving average is $98.45.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.115 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction 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 approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by insiders.

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.