Micron Technology, Inc. $MU Shares Sold by Cooper Financial Group

Key Points

• Cooper Financial Group reduced its stake in Micron Technology by 45%, selling 5,652 shares in Q2, leaving them with 6,915 shares valued at $852,000.
• Micron's CFO and a director both sold shares recently, with the CFO selling 34,000 shares for about $3.7 million, representing an 11.41% decrease in his position.
• Micron Technology announced a quarterly dividend of $0.115 per share, with an upcoming payment date of October 21st and an ex-dividend date of October 3rd.

Cooper Financial Group decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 have also modified their holdings of the company. Bourgeon Capital Management LLC increased its stake in shares of Micron Technology by 3.8% in the 2nd quarter. Bourgeon Capital Management LLC now owns 107,923 shares of the semiconductor manufacturer's stock valued at $13,302,000 after purchasing an additional 3,952 shares in the last quarter. FMB Wealth Management purchased a new position in Micron Technology during the second quarter worth approximately $217,000. Hansen & Associates Financial Group Inc. acquired a new stake in Micron Technology in the second quarter valued at approximately $1,107,000. Chicago Capital LLC purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $301,000. Finally, Eagle Wealth Strategies LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,456 shares of company stock worth $10,524,945. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

NASDAQ MU opened at $182.15 on Thursday. The stock's fifty day moving average is $131.92 and its two-hundred day moving average is $109.55. The firm has a market capitalization of $203.85 billion, a P/E 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 quick ratio of 1.79 and a current ratio of 2.52. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $182.39.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. 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 payout ratio is presently 6.06%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MU shares. Erste Group Bank initiated coverage on shares of Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating on the stock. Raymond James Financial lifted their target price on shares of Micron Technology from $150.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. KeyCorp boosted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. TD Cowen raised their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, Wedbush boosted their price objective on Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Micron Technology currently has an average rating of "Buy" and a consensus price target of $184.77.

About Micron Technology

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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