Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Virtu Financial LLC

Virtu Financial LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 69.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,060 shares of the semiconductor manufacturer’s stock after selling 23,387 shares during the quarter. Virtu Financial LLC’s holdings in Micron Technology were worth $1,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the 2nd quarter valued at $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology in the 1st quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its position in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. Finally, LRI Investments LLC increased its position in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $87.35 on Thursday. Micron Technology, Inc. has a 12-month low of $63.83 and a 12-month high of $157.54. The company has a market cap of $96.86 billion, a PE ratio of -61.51 and a beta of 1.17. The stock has a 50 day simple moving average of $101.48 and a 200-day simple moving average of $114.77. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.57) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. KeyCorp lowered their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research raised their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Piper Sandler upped their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.54.

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.