Micron Technology, Inc. (NASDAQ:MU) Holdings Lifted by Seaview Investment Managers LLC

Seaview Investment Managers LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3,190.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,014 shares of the semiconductor manufacturer’s stock after buying an additional 102,792 shares during the quarter. Micron Technology comprises 2.5% of Seaview Investment Managers LLC’s portfolio, making the stock its 27th largest holding. Seaview Investment Managers LLC’s holdings in Micron Technology were worth $8,922,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $33,000. Activest Wealth Management lifted its position in Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA bought a new position in Micron Technology during the 4th quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at $34,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $68.80 on Friday. The firm has a 50 day simple moving average of $88.23 and a 200 day simple moving average of $95.89. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $157.54. The stock has a market cap of $76.89 billion, a P/E ratio of 19.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Research analysts anticipate 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 was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MU shares. Citigroup cut their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price target on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. Royal Bank of Canada set a $125.00 target price on shares of Micron Technology in a report on Wednesday, March 19th. Finally, Rosenblatt Securities reduced their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.36.

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.