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

Mountain Pacific Investment Advisers LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,622 shares of the semiconductor manufacturer’s stock after selling 2,600 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Micron Technology were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in 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 boosted its holdings in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology during the first quarter worth $36,000. Harbor Investment Advisory LLC raised its holdings in shares of Micron Technology by 240.0% during the first quarter. Harbor Investment Advisory LLC now owns 425 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 300 shares during the period. Finally, Saudi Central Bank acquired a new stake in shares of Micron Technology during the first quarter worth $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Up 8.9%

MU stock opened at $182.15 on Thursday. The company has a market cap of $203.85 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 0.37 and a beta of 1.56. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $182.39. The business has a 50 day moving average price of $131.92 and a two-hundred day moving average price of $109.55. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s payout ratio is presently 6.06%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 13,798 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60. Following the sale, the chief executive officer directly owned 325,148 shares of the company’s stock, valued at approximately $52,739,005.60. This represents a 4.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares of the company’s stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,456 shares of company stock valued at $10,524,945. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MU shares. Stifel Nicolaus upped their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Erste Group Bank initiated coverage on Micron Technology in a research report on Thursday, August 14th. They set a “buy” rating for the company. Needham & Company LLC increased their price objective on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. CLSA initiated coverage on Micron Technology in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.