Pictet North America Advisors SA Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Pictet North America Advisors SA trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,591 shares of the semiconductor manufacturer’s stock after selling 2,062 shares during the quarter. Pictet North America Advisors SA’s holdings in Micron Technology were worth $4,847,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth $26,000. True Wealth Design LLC lifted its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. DT Investment Partners LLC boosted its position in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. Finally, Activest Wealth Management raised its position 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 acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MU. Barclays dropped their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wedbush restated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Tuesday, December 17th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Price Performance

Micron Technology stock opened at $95.66 on Friday. The firm has a market capitalization of $106.58 billion, a PE ratio of 27.57 and a beta of 1.18. Micron Technology, Inc. has a 52 week low of $79.15 and a 52 week high of $157.54. The firm’s 50-day simple moving average is $96.24 and its 200 day simple moving average is $98.73. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the business earned ($0.95) earnings per share. The company’s quarterly revenue was up 84.3% on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is currently 13.26%.

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.