Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MUFree Report) by 20.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 558,935 shares of the semiconductor manufacturer’s stock after selling 141,820 shares during the quarter. Sei Investments Co. owned about 0.05% of Micron Technology worth $38,024,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MU. State Street Corp increased its stake in Micron Technology by 0.6% in the second quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after purchasing an additional 282,292 shares during the last quarter. FMR LLC grew its position in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Capital World Investors grew its position in shares of Micron Technology by 19.8% during the second quarter. Capital World Investors now owns 21,320,648 shares of the semiconductor manufacturer’s stock worth $1,345,546,000 after acquiring an additional 3,523,684 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Micron Technology by 2.4% during the second quarter. Geode Capital Management LLC now owns 20,833,138 shares of the semiconductor manufacturer’s stock worth $1,311,265,000 after acquiring an additional 484,293 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Micron Technology by 411.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock worth $763,398,000 after acquiring an additional 12,286,893 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $98.98 on Friday. The business’s 50 day moving average is $86.16 and its two-hundred day moving average is $77.20. Micron Technology, Inc. has a 52-week low of $52.76 and a 52-week high of $99.69. The firm has a market cap of $109.27 billion, a price-to-earnings ratio of -15.76 and a beta of 1.24. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MUGet Free Report) last announced its earnings results on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.06. Micron Technology had a negative return on equity of 14.44% and a negative net margin of 42.47%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period in the prior year, the company posted ($0.15) EPS. Micron Technology’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post -0.99 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Tuesday, January 2nd were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, December 29th. Micron Technology’s dividend payout ratio is currently -7.32%.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 28,228 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the transaction, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Scott J. Deboer sold 28,228 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the transaction, the executive vice president now directly owns 203,342 shares of the company’s stock, valued at $17,739,556.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $81.61, for a total value of $571,270.00. Following the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at $53,190,051.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 284,228 shares of company stock valued at $23,846,291. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MU. Susquehanna lifted their price objective on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a research report on Monday, December 18th. UBS Group raised their target price on Micron Technology from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 21st. BMO Capital Markets raised their target price on Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 18th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of Micron Technology in a report on Thursday, December 21st. Finally, Mizuho lifted their price target on Micron Technology from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.95.

Check Out Our Latest Stock Report on MU

About Micron Technology

(Free Report)

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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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