Pictet Asset Management Holding SA Acquires 47,328 Shares of Micron Technology, Inc. (NASDAQ:MU)

Pictet Asset Management Holding SA boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,787,719 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,328 shares during the period. Pictet Asset Management Holding SA’s holdings in Micron Technology were worth $318,774,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Beacon Capital Management LLC boosted its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Activest Wealth Management raised its stake in shares of Micron Technology by 583.3% during the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 350 shares during the period. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology in the fourth quarter worth about $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Down 1.1 %

Shares of MU opened at $91.16 on Friday. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The firm has a market capitalization of $101.88 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23. The firm’s 50-day moving average price is $96.35 and its 200-day moving average price is $98.36. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MU. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. Piper Sandler cut their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup reduced their target price on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced 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, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

Micron Technology 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.