3,929 Shares in Micron Technology, Inc. $MU Bought by Clarity Capital Partners LLC

Key Points

• Clarity Capital Partners LLC purchased 3,929 shares of Micron Technology, Inc. for approximately $484,000 during the second quarter.
• Several analysts have raised their price targets for Micron, with Citigroup and Susquehanna both increasing theirs to $200 and representing a consensus average price target of $184.77.
• CEO Sanjay Mehrotra recently sold 15,000 shares of Micron stock valued at about $2.7 million, leading to a 4.61% decrease in his ownership stake.

Clarity Capital Partners LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,929 shares of the semiconductor manufacturer's stock, valued at approximately $484,000.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the first quarter worth $33,000. AllSquare Wealth Management LLC increased its holdings 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 valued at $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the first quarter valued at $36,000. Hilltop National Bank acquired a new position in shares of Micron Technology during the second quarter valued at $37,000. Finally, Saudi Central Bank acquired a new position in shares of Micron Technology during the first quarter valued at $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MU. Citigroup raised their price target on Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Susquehanna raised their price target on Micron Technology from $160.00 to $200.00 and gave the company a "positive" rating in a report on Wednesday, September 17th. Bank of America raised their price target on Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Rosenblatt Securities raised their target price on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Summit Insights raised Micron Technology to a "strong-buy" rating in a research note on Tuesday, September 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $184.77.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 15,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the completion of the sale, the chief executive officer directly owned 310,148 shares in the company, valued at approximately $56,093,367.28. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the transaction, the director owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 2.2%

Shares of NASDAQ MU opened at $187.83 on Friday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $191.85. The firm has a market capitalization of $210.20 billion, a PE ratio of 24.75, a PEG ratio of 0.40 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $134.89 and a two-hundred day moving average price of $110.70.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology's dividend payout ratio (DPR) is presently 6.06%.

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.

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