Virtu Financial LLC Makes New $4.36 Million Investment in Micron Technology, Inc. (NASDAQ:MU)

Virtu Financial LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 51,780 shares of the semiconductor manufacturer’s stock, valued at approximately $4,358,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ZEGA Investments LLC acquired a new position in shares of Micron Technology during the fourth quarter worth about $164,000. HUB Investment Partners LLC lifted its stake in shares of Micron Technology by 255.8% during the fourth quarter. HUB Investment Partners LLC now owns 7,568 shares of the semiconductor manufacturer’s stock worth $637,000 after purchasing an additional 5,441 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in shares of Micron Technology by 46.2% during the fourth quarter. Blueshift Asset Management LLC now owns 10,289 shares of the semiconductor manufacturer’s stock worth $866,000 after purchasing an additional 3,251 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in shares of Micron Technology by 6.2% in the fourth quarter. iA Global Asset Management Inc. now owns 120,077 shares of the semiconductor manufacturer’s stock worth $10,106,000 after acquiring an additional 7,043 shares in the last quarter. Finally, First National Bank of Hutchinson lifted its stake in shares of Micron Technology by 2.6% in the fourth quarter. First National Bank of Hutchinson now owns 8,888 shares of the semiconductor manufacturer’s stock worth $748,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Wells Fargo & Company cut their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Sanford C. Bernstein cut their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC cut their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Piper Sandler cut their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Micron Technology Stock Down 8.0 %

MU opened at $94.72 on Friday. Micron Technology, Inc. has a 12 month low of $83.54 and a 12 month high of $157.54. 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 stock has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The stock’s 50 day moving average price is $96.82 and its 200 day moving average price is $98.21.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS 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 firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by 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.