Pictet Asset Management SA raised its stake in Micron Technology, Inc. (NASDAQ:MU – Get Rating) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,316,509 shares of the semiconductor manufacturer’s stock after purchasing an additional 505,042 shares during the period. Pictet Asset Management SA owned 0.47% of Micron Technology worth $495,233,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in MU. Capital World Investors boosted its holdings in shares of Micron Technology by 493.2% in the third quarter. Capital World Investors now owns 14,864,469 shares of the semiconductor manufacturer’s stock worth $1,055,080,000 after buying an additional 12,358,857 shares during the last quarter. Capital Research Global Investors raised its holdings in Micron Technology by 38.8% in the third quarter. Capital Research Global Investors now owns 24,545,270 shares of the semiconductor manufacturer’s stock worth $1,742,232,000 after purchasing an additional 6,862,615 shares in the last quarter. Sanders Capital LLC increased its holdings in Micron Technology by 9.5% in the 3rd quarter. Sanders Capital LLC now owns 40,391,375 shares of the semiconductor manufacturer’s stock worth $3,138,904,000 after buying an additional 3,492,076 shares during the period. Marathon Asset Mgmt Ltd purchased a new stake in Micron Technology in the 4th quarter worth approximately $136,248,000. Finally, Voloridge Investment Management LLC raised its stake in Micron Technology by 289.1% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,790,549 shares of the semiconductor manufacturer’s stock valued at $127,093,000 after purchasing an additional 1,330,377 shares during the last quarter. Institutional investors and hedge funds own 80.35% of the company’s stock.
A number of research firms have recently issued reports on MU. Susquehanna assumed coverage on Micron Technology in a research note on Wednesday, March 30th. They issued a “buy” rating and a $125.00 target price for the company. Morgan Stanley lifted their price objective on Micron Technology from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, March 30th. Barclays raised their price objective on Micron Technology from $100.00 to $105.00 in a research note on Wednesday, January 12th. Mizuho raised their price objective on shares of Micron Technology from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Finally, StockNews.com cut shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $113.32.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $1.85 by $0.20. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 9.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, April 8th. Micron Technology’s payout ratio is 5.03%.
In related news, SVP Robert P. Beard sold 266 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP April S. Arnzen sold 5,600 shares of the business’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
- Get a free copy of the StockNews.com research report on Micron Technology (MU)
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