Cooper Financial Group Lowers Stake in Micron Technology, Inc. $MU

Cooper Financial Group lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 45.0% in the 2nd quarter, Holdings Channel reports. The firm owned 6,915 shares of the semiconductor manufacturer’s stock after selling 5,652 shares during the period. Cooper Financial Group’s holdings in Micron Technology were worth $852,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC lifted its position in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology in the first quarter valued at approximately $36,000. Harbor Investment Advisory LLC grew its holdings in shares of Micron Technology by 240.0% in the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in Micron Technology during the 1st quarter worth approximately $38,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MU. Wall Street Zen raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 26th. UBS Group lifted their target price on Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. KeyCorp boosted their target price on Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. CLSA started coverage on Micron Technology in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Wolfe Research lifted their price objective on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $184.77.

Micron Technology Stock Up 8.9%

Shares of NASDAQ MU opened at $182.15 on Thursday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $182.39. The company has a market capitalization of $203.85 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The business has a 50-day moving average of $131.92 and a two-hundred day moving average of $109.55.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the completion of the sale, the chief executive officer directly owned 325,148 shares of the company’s stock, valued at $52,739,005.60. The trade was a 4.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,456 shares of company stock worth $10,524,945 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Micron Technology Profile

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.