Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Pictet North America Advisors SA

Pictet North America Advisors SA increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,007 shares of the semiconductor manufacturer's stock after buying an additional 2,416 shares during the quarter. Pictet North America Advisors SA's holdings in Micron Technology were worth $5,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter worth about $33,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth about $34,000. Hurley Capital LLC acquired a new stake in Micron Technology during the fourth quarter worth about $37,000. Finally, Roxbury Financial LLC raised its position in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU traded up $0.85 during trading on Wednesday, reaching $121.74. The company's stock had a trading volume of 29,259,282 shares, compared to its average volume of 23,329,771. The company has a market cap of $136.24 billion, a price-to-earnings ratio of 21.94 and a beta of 1.34. The firm has a fifty day simple moving average of $100.85 and a two-hundred day simple moving average of $94.48. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $137.13. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.38%. The ex-dividend date is Monday, July 7th. Micron Technology's payout ratio is currently 11.03%.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director directly owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,042 shares of company stock valued at $21,010,360 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. KeyCorp raised their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Morgan Stanley upped their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Needham & Company LLC lifted their price target on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities upped their price target on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Barclays raised their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.21.

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.