Virtu Financial LLC Buys Shares of 51,780 Micron Technology, Inc. (NASDAQ:MU)

Virtu Financial LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 51,780 shares of the semiconductor manufacturer’s stock, valued at approximately $4,358,000.

Other large investors also recently added to or reduced their stakes in the company. ZEGA Investments LLC acquired a new position in Micron Technology during the 4th quarter worth about $164,000. HUB Investment Partners LLC lifted its stake in Micron Technology by 255.8% during the 4th quarter. HUB Investment Partners LLC now owns 7,568 shares of the semiconductor manufacturer’s stock worth $637,000 after acquiring an additional 5,441 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in Micron Technology by 46.2% during the 4th quarter. Blueshift Asset Management LLC now owns 10,289 shares of the semiconductor manufacturer’s stock worth $866,000 after acquiring an additional 3,251 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in Micron Technology by 6.2% during the 4th 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 Micron Technology by 2.6% during the 4th 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. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction 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 completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Micron Technology stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a fifty day moving average of $96.82 and a two-hundred day moving average of $98.21. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a fifty-two week low of $83.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 13.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MU. Robert W. Baird increased their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays increased their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. Wells Fargo & Company reduced their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

About Micron Technology

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.