J. Safra Sarasin Holding AG Reduces Position in Micron Technology, Inc. $MU

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Micron Technology, Inc. by 12.9%, owning 64,109 shares valued at approximately $7.9 million after selling 9,480 shares in the 2nd quarter.
• Micron Technology announced a quarterly dividend of $0.115 per share, with an annualized dividend yield of 0.3%, set to be paid on October 21st.
• Wall Street analysts have raised their price targets for Micron Technology, with Wells Fargo increasing its target from $170 to $220, and a consensus rating of "Buy" among 30 analysts.

J. Safra Sarasin Holding AG reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,109 shares of the semiconductor manufacturer's stock after selling 9,480 shares during the period. J. Safra Sarasin Holding AG's holdings in Micron Technology were worth $7,901,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in shares of Micron Technology by 240.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Micron Technology by 22.6% in the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer's stock valued at $1,692,000 after purchasing an additional 3,593 shares during the period. HBW Advisory Services LLC acquired a new stake in Micron Technology during the first quarter worth about $281,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Micron Technology by 48.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,965 shares of the semiconductor manufacturer's stock worth $1,127,000 after purchasing an additional 4,226 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

MU opened at $183.75 on Friday. The stock's 50-day moving average price is $133.36 and its 200 day moving average price is $110.11. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $186.18. The firm has a market cap of $205.64 billion, a price-to-earnings ratio of 24.21, 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.

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 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 6.06%.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 13,798 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the sale, the chief executive officer directly owned 325,148 shares of the company's stock, valued at $52,739,005.60. This represents a 4.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the sale, the executive vice president owned 131,580 shares in the company, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,456 shares of company stock valued at $12,985,545. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Wells Fargo & Company raised 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. UBS Group raised their target price on Micron Technology from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Cantor Fitzgerald upped their price target on Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Finally, Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Four 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 company's stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Buy" and a consensus price target of $184.77.

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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