Clarius Group LLC Sells 3,122 Shares of Micron Technology, Inc. $MU

Key Points

• Clarius Group LLC sold 3,122 shares of Micron Technology, reducing its holdings by 21.9% in the second quarter, leaving them with 11,116 shares valued at approximately $1.37 million.
• Wall Street analysts have shown optimism for Micron, with Wells Fargo raising its price target from $170 to $220 and a majority of analysts providing a "Buy" or "Strong Buy" rating.
• Micron Technology announced a quarterly dividend of $0.115 per share, which will be paid on October 21st, reflecting a dividend yield of 0.2%.

Clarius Group LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 21.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,116 shares of the semiconductor manufacturer's stock after selling 3,122 shares during the period. Clarius Group LLC's holdings in Micron Technology were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology in the 1st quarter worth $36,000. Hilltop National Bank bought a new position in shares of Micron Technology in the 2nd quarter worth $37,000. Finally, Saudi Central Bank bought a new position in shares of Micron Technology in the 1st quarter worth $38,000. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MU shares. Wells Fargo & Company increased their price target on shares of Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. TD Cowen increased their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, September 19th. CLSA started coverage on shares of Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, KGI Securities raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $184.77.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $187.83 on Friday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $191.85. The stock has a market capitalization of $210.20 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56. The company has a fifty day moving average of $134.89 and a 200-day moving average of $110.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director owned 96,031 shares of the company's stock, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 15,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total transaction of $2,712,900.00. Following the sale, the chief executive officer directly owned 310,148 shares of the company's stock, valued at $56,093,367.28. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,456 shares of company stock worth $15,698,445 over the last 90 days. Company insiders own 0.30% of the company's stock.

Micron Technology Company 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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