Virtue Capital Management LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,538 shares of the semiconductor manufacturer’s stock, valued at approximately $557,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Micron Technology by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 12,907,706 shares of the semiconductor manufacturer’s stock worth $529,730,000 after acquiring an additional 835,541 shares during the period. Janus Henderson Group PLC lifted its position in Micron Technology by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock worth $476,863,000 after acquiring an additional 274,086 shares during the period. CI Investments Inc. lifted its position in Micron Technology by 0.5% during the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock worth $297,740,000 after acquiring an additional 35,300 shares during the period. Legal & General Group Plc lifted its position in Micron Technology by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock worth $221,856,000 after acquiring an additional 94,517 shares during the period. Finally, Greenlight Capital Inc. raised its stake in shares of Micron Technology by 89.5% during the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after buying an additional 2,371,900 shares during the last quarter. 81.52% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on MU shares. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price objective for the company in a research note on Wednesday, November 15th. Morgan Stanley lifted their price objective on Micron Technology from $39.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Finally, Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.51.
Shares of Micron Technology, Inc. (NASDAQ:MU) opened at $54.59 on Friday. Micron Technology, Inc. has a 52 week low of $24.81 and a 52 week high of $55.83. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $62,400.00, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 0.54 and a beta of 1.45.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the business earned $0.32 EPS. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. equities analysts anticipate that Micron Technology, Inc. will post 10.29 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “13,538 Shares in Micron Technology, Inc. (MU) Purchased by Virtue Capital Management LLC” was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3253971/13538-shares-in-micron-technology-inc-mu-purchased-by-virtue-capital-management-llc.html.
Micron Technology Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.