Pictet Asset Management Holding SA Has $318.77 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Pictet Asset Management Holding SA boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,787,719 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,328 shares during the quarter. Pictet Asset Management Holding SA owned 0.34% of Micron Technology worth $318,774,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MU. Nomura Asset Management Co. Ltd. grew its stake in shares of Micron Technology by 339.6% in 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 position in shares of Micron Technology in the fourth quarter worth about $1,470,875,000. Caisse Des Depots ET Consignations bought a new position in Micron Technology in the 4th quarter worth approximately $9,030,000. Howe & Rusling Inc. raised its stake in Micron Technology by 0.5% during the 4th 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 during the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at about $2,598,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Barclays raised their target price on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. The Goldman Sachs Group decreased their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

Micron Technology Trading Down 1.1 %

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

Micron Technology (NASDAQ:MU) last announced its quarterly 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 net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.115 per share. 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 0.50%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

About Micron Technology

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.