Mountain Pacific Investment Advisers LLC Sells 2,600 Shares of Micron Technology, Inc. $MU

Key Points

• Mountain Pacific Investment Advisers LLC reduced its stake in Micron Technology by 17.1% by selling 2,600 shares during the second quarter, leaving it with holdings valued at approximately $1.56 million.
• Micron Technology declared a quarterly dividend of $0.115 per share, with the ex-dividend date set for October 3rd, providing a 0.3% dividend yield.
• Analysts have raised their price targets on Micron Technology stock, with UBS Group increasing their target to $195.00 and Wedbush setting a target of $220.00, indicating strong expected growth.

Mountain Pacific Investment Advisers LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,622 shares of the semiconductor manufacturer's stock after selling 2,600 shares during the quarter. Mountain Pacific Investment Advisers LLC's holdings in Micron Technology were worth $1,556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Dogwood Wealth Management LLC increased its position in shares of Micron Technology by 259.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer's stock worth $44,000 after purchasing an additional 257 shares in the last quarter. Trilogy Capital Inc. bought a new stake in Micron Technology during the second quarter worth about $220,000. QTR Family Wealth LLC increased its holdings in shares of Micron Technology by 4.7% during the second quarter. QTR Family Wealth LLC now owns 3,807 shares of the semiconductor manufacturer's stock worth $469,000 after buying an additional 171 shares in the last quarter. Childress Capital Advisors LLC raised its stake in shares of Micron Technology by 9.8% in the second quarter. Childress Capital Advisors LLC now owns 4,515 shares of the semiconductor manufacturer's stock valued at $557,000 after acquiring an additional 402 shares during the last quarter. Finally, Midwest Financial Group LLC boosted its holdings in shares of Micron Technology by 4.9% in the 2nd quarter. Midwest Financial Group LLC now owns 22,900 shares of the semiconductor manufacturer's stock worth $2,822,000 after acquiring an additional 1,070 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 13,798 shares of the 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 completion of the sale, the chief executive officer owned 325,148 shares in the company, valued at $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,456 shares of company stock valued at $10,524,945 in the last three months. 0.30% of the stock is currently owned by company insiders.

Micron Technology Trading Up 8.9%

Shares of NASDAQ MU opened at $182.15 on Thursday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $182.39. The firm has a market capitalization of $203.85 billion, a P/E ratio of 24.00, a P/E/G 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 company's 50 day simple moving average is $131.92 and its 200 day simple moving average is $109.55.

Micron Technology Dividend Announcement

The business 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 $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on Micron Technology from $185.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Wedbush raised their target price on Micron Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Wolfe Research lifted their price target on Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. TD Cowen increased their price objective 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. Finally, Citigroup raised their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus target price of $184.77.

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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