Micron Technology, Inc. (NASDAQ:MU) Stock Position Lifted by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,700 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,865 shares during the quarter. Banque Pictet & Cie SA’s holdings in Micron Technology were worth $9,821,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. V Square Quantitative Management LLC boosted its stake in Micron Technology by 14.6% during the 4th quarter. V Square Quantitative Management LLC now owns 20,110 shares of the semiconductor manufacturer’s stock valued at $1,692,000 after purchasing an additional 2,560 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in shares of Micron Technology in the fourth quarter valued at $225,000. Vontobel Holding Ltd. boosted its stake in Micron Technology by 44.3% during the fourth quarter. Vontobel Holding Ltd. now owns 151,188 shares of the semiconductor manufacturer’s stock valued at $12,724,000 after buying an additional 46,392 shares in the last quarter. Bogart Wealth LLC grew its holdings in Micron Technology by 142.4% during the fourth quarter. Bogart Wealth LLC now owns 1,428 shares of the semiconductor manufacturer’s stock worth $120,000 after acquiring an additional 839 shares during the period. Finally, Catalyst Financial Partners LLC lifted its holdings in Micron Technology by 6.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 5,328 shares of the semiconductor manufacturer’s stock valued at $448,000 after acquiring an additional 334 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 4.3 %

MU stock opened at $95.66 on Friday. The firm has a market cap of $106.58 billion, a PE ratio of 27.57 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54. The company has a fifty day simple moving average of $96.24 and a 200 day simple moving average of $98.73. The company has a current ratio of 2.72, a quick ratio of 1.75 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company posted ($0.95) EPS. The firm’s revenue was up 84.3% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MU. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Needham & Company LLC cut their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. TD Cowen decreased their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler dropped their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Sanford C. Bernstein reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate 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.