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

Sei Investments Co. cut its position in Micron Technology, Inc. (NASDAQ:MU) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other institutional investors have also recently made changes to their positions in MU. Runnymede Capital Advisors Inc. bought a new position in Micron Technology in the 4th quarter worth approximately $1,887,000. Mizuho Securities USA LLC lifted its position in shares of Micron Technology by 46.1% during the fourth quarter. Mizuho Securities USA LLC now owns 105,084 shares of the semiconductor manufacturer’s stock worth $8,844,000 after acquiring an additional 33,182 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Micron Technology in the fourth quarter worth $4,358,000. ZEGA Investments LLC purchased a new position in shares of Micron Technology in the fourth quarter valued at $164,000. Finally, HUB Investment Partners LLC raised its stake in shares of Micron Technology by 255.8% during the 4th quarter. HUB Investment Partners LLC now owns 7,568 shares of the semiconductor manufacturer’s stock valued at $637,000 after purchasing an additional 5,441 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $94.18 on Wednesday. The company has a 50-day simple moving average of $96.80 and a two-hundred day simple moving average of $98.45. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The firm has a market cap of $104.93 billion, a price-to-earnings ratio of 27.14 and a beta of 1.23. 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) last issued its earnings results 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 company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the business posted $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. UBS Group lifted their target price on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 17th. Rosenblatt Securities reduced their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price target on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.63.

Insider Buying and Selling at Micron Technology

In other 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 value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.