Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,787,719 shares of the semiconductor manufacturer's stock after purchasing an additional 47,328 shares during the quarter. Pictet Asset Management Holding SA owned about 0.34% of Micron Technology worth $318,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of Micron Technology by 339.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer's stock valued at $189,781,000 after buying an additional 1,742,073 shares in the last quarter. Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter valued at about $1,470,875,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Micron Technology in the 4th quarter worth approximately $9,030,000. Howe & Rusling Inc. boosted its stake in shares of Micron Technology by 0.5% during the fourth quarter. Howe & Rusling Inc. now owns 104,485 shares of the semiconductor manufacturer's stock valued at $8,793,000 after purchasing an additional 517 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC bought a new position in Micron Technology in the fourth quarter worth approximately $2,598,000. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business's 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MU. Piper Sandler decreased their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Sanford C. Bernstein lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group reduced their price target on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Rosenblatt Securities cut their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, Wedbush restated an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.76.

Micron Technology Trading Down 3.8 %

NASDAQ:MU traded down $3.33 on Monday, hitting $85.00. The stock had a trading volume of 9,999,206 shares, compared to its average volume of 22,824,184. The stock has a market cap of $95.00 billion, a price-to-earnings ratio of 24.53 and a beta of 1.23. Micron Technology, Inc. has a 1-year low of $83.54 and a 1-year high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $96.00 and a two-hundred day moving average price of $98.51.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the business posted $0.42 EPS. Micron Technology's revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share 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. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. Micron Technology's dividend payout ratio is presently 11.03%.

Micron Technology Company 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.