Pictet Asset Management Ltd. Buys 36,442 Shares of Micron Technology, Inc. (NASDAQ:MU)

Pictet Asset Management Ltd. increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580,738 shares of the semiconductor manufacturer’s stock after purchasing an additional 36,442 shares during the period. Pictet Asset Management Ltd. owned 0.05% of Micron Technology worth $22,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Berman Capital Advisors LLC raised its position in shares of Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 255 shares during the last quarter. Citizens Financial Group Inc RI bought a new stake in shares of Micron Technology during the 1st quarter valued at $37,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Micron Technology during the 2nd quarter valued at $37,000. Huntington National Bank raised its position in shares of Micron Technology by 40.9% during the 2nd quarter. Huntington National Bank now owns 1,271 shares of the semiconductor manufacturer’s stock valued at $49,000 after acquiring an additional 369 shares during the last quarter. Finally, Ibex Wealth Advisors bought a new stake in shares of Micron Technology during the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 76.73% of the company’s stock.

NASDAQ MU traded up $0.40 on Friday, reaching $50.84. The company had a trading volume of 501,090 shares, compared to its average volume of 18,772,324. The firm has a market capitalization of $54.52 billion, a price-to-earnings ratio of 4.30 and a beta of 1.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. Micron Technology, Inc. has a 1-year low of $28.39 and a 1-year high of $51.39. The company’s fifty day moving average is $44.93 and its 200-day moving average is $40.76.



Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the business earned $3.15 EPS. The company’s revenue for the quarter was down 38.6% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Several analysts have commented on the stock. Mizuho upped their target price on shares of Micron Technology from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Royal Bank of Canada set a $55.00 price target on shares of Micron Technology and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America boosted their price target on shares of Micron Technology from $45.00 to $60.00 and gave the company an “average” rating in a report on Thursday, July 18th. Finally, Susquehanna Bancshares reissued a “hold” rating on shares of Micron Technology in a report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have given a buy rating to the stock. Micron Technology has an average rating of “Buy” and a consensus price target of $50.19.

In other news, SVP April S. Arnzen sold 4,800 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $216,000.00. Following the completion of the transaction, the senior vice president now directly owns 79,392 shares in the company, valued at approximately $3,572,640. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president now owns 110,236 shares of the company’s stock, valued at $5,511,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,735 shares of company stock valued at $3,736,994. Company insiders own 0.20% of the company’s stock.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: What Factors Can Affect Return on Equity?

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.