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

Virtu Financial LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,780 shares of the semiconductor manufacturer's stock, valued at approximately $4,358,000.

Several other large investors have also recently made changes to their positions in the company. Harmony Asset Management LLC grew its position in Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after acquiring an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock worth $4,252,000 after acquiring an additional 29,000 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares during the period. Stablepoint Partners LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $569,000. Finally, State Street Corp boosted 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 purchasing an additional 1,434,568 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's 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 completion of the transaction, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company's stock.

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Micron Technology Stock Down 2.8 %

NASDAQ:MU traded down $2.76 during mid-day trading on Tuesday, hitting $94.18. The stock had a trading volume of 22,163,705 shares, compared to its average volume of 22,527,407. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The stock has a 50-day simple moving average of $96.86 and a two-hundred day simple moving average of $98.40. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $104.93 billion, a PE ratio of 27.14 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current 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 dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology's dividend payout ratio is currently 11.03%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MU. Morgan Stanley increased their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a report on Friday. Barclays boosted their price target on Micron Technology from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Wedbush reiterated an "outperform" rating and issued a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. One 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 stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price 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.