SeaCrest Wealth Management LLC Trims Holdings in Micron Technology, Inc. (NASDAQ:MU)

SeaCrest Wealth Management LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MUFree Report) by 13.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,877 shares of the semiconductor manufacturer’s stock after selling 886 shares during the period. SeaCrest Wealth Management LLC’s holdings in Micron Technology were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings 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 acquiring an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Micron Technology by 21.7% during 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 purchasing an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $102.60 on Friday. 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, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm’s 50 day moving average is $98.21 and its two-hundred day moving average is $102.66. The firm has a market capitalization of $114.31 billion, a P/E ratio of 29.57 and a beta of 1.18.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the business earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. Research analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MU shares. China Renaissance began coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a research note on Thursday, December 19th. Robert W. Baird dropped their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Check Out Our Latest Stock Analysis on Micron Technology

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Micron Technology Profile

(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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