Pictet North America Advisors SA Has $6.19 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Pictet North America Advisors SA boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 59,653 shares of the semiconductor manufacturer’s stock after purchasing an additional 760 shares during the period. Pictet North America Advisors SA’s holdings in Micron Technology were worth $6,187,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MU. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the first quarter worth approximately $25,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology during the second quarter worth approximately $28,000. Valued Wealth Advisors LLC lifted its position in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Davis Capital Management acquired a new stake in Micron Technology during the third quarter worth approximately $30,000. Finally, Richard W. Paul & Associates LLC lifted its position in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU stock opened at $107.82 on Wednesday. The stock has a market capitalization of $119.56 billion, a PE ratio of -75.93 and a beta of 1.18. The company’s 50-day moving average is $99.14 and its 200-day moving average is $114.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 1 year low of $63.88 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the firm earned ($1.21) EPS. The business’s revenue was up 93.3% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. KeyCorp cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Piper Sandler boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird cut their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.85.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by 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.