13,200 Shares in Micron Technology, Inc. (NASDAQ:MU) Acquired by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA acquired 13,200 shares of Micron Technology, Inc. during the first quarter, valuing the stake at approximately $1,147,000.
• Several institutional investors increased their positions in Micron during the fourth quarter, with FMR LLC leading by boosting its stake by 34.6% to over 47 million shares.
• Micron Technology's recent earnings report showed earnings per share of $1.91, exceeding estimates, and the company also declared a quarterly dividend of $0.115 per share.

Mirabaud & Cie SA purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,200 shares of the semiconductor manufacturer's stock, valued at approximately $1,147,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. FMR LLC lifted its position in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital World Investors grew its holdings in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. Capital International Investors increased its position in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after buying an additional 4,375,232 shares during the period. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 139.7% during the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after buying an additional 9,489,579 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Micron Technology by 13.7% during the fourth quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock worth $901,527,000 after buying an additional 1,287,063 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several recent research reports. Mizuho upped their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. TD Cowen upped their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Robert W. Baird boosted their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Raymond James Financial raised their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Trading Down 3.9%

MU opened at $104.88 on Friday. The firm's fifty day moving average is $114.36 and its two-hundred day moving average is $97.99. The firm has a market cap of $117.37 billion, a PE ratio of 18.90 and a beta of 1.37. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the prior year, the company earned $0.62 earnings per share. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is 8.29%.

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.

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