Banque Pictet & Cie SA Acquires 67,155 Shares of Micron Technology, Inc. (MU)

Banque Pictet & Cie SA raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.6% during the first quarter, Holdings Channel reports. The fund owned 448,760 shares of the semiconductor manufacturer’s stock after buying an additional 67,155 shares during the period. Banque Pictet & Cie SA’s holdings in Micron Technology were worth $12,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Personal Financial Services boosted its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank boosted its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the period. Coconut Grove Bank boosted its stake in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Micron Technology during the first quarter worth approximately $201,000. Finally, Iron Financial LLC bought a new stake in shares of Micron Technology during the first quarter worth approximately $208,000. Institutional investors own 79.75% of the company’s stock.

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

Shares of Micron Technology, Inc. (MU) traded down 0.83% during midday trading on Tuesday, reaching $30.94. The company had a trading volume of 12,922,872 shares. The company has a 50-day moving average price of $29.60 and a 200 day moving average price of $25.67. Micron Technology, Inc. has a one year low of $11.50 and a one year high of $32.93. The company has a market capitalization of $34.23 billion, a P/E ratio of 48.19 and a beta of 1.77.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.06. Micron Technology had a return on equity of 7.73% and a net margin of 4.68%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post $4.29 earnings per share for the current fiscal year.

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A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Robert W. Baird reissued an “outperform” rating and set a $40.00 target price on shares of Micron Technology in a research note on Friday, June 9th. Macquarie reissued an “outperform” rating and set a $35.00 target price on shares of Micron Technology in a research note on Wednesday, June 14th. Credit Suisse Group reissued an “outperform” rating and set a $40.00 target price on shares of Micron Technology in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $47.00 target price on shares of Micron Technology in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.29.

In other Micron Technology news, VP April S. Arnzen sold 10,638 shares of Micron Technology stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $28.95, for a total value of $307,970.10. Following the completion of the sale, the vice president now owns 57,792 shares of the company’s stock, valued at approximately $1,673,078.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian Shirley sold 88,000 shares of Micron Technology stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $28.67, for a total value of $2,522,960.00. Following the completion of the sale, the vice president now directly owns 376,292 shares of the company’s stock, valued at approximately $10,788,291.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,380 shares of company stock valued at $6,898,194. 0.69% of the stock is owned by corporate insiders.

Micron Technology Company Profile

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