Note that intrinsic angular momentum ("spin") [itex]\vec S[/itex] is a vector: a quantity that has both magnitude and direction.
"spin 1/2" normally refers to the quantum number that's associated with the magnitude of [itex]\vec S[/itex]. Most of my books call this quantum number s. Other books, and Fredrik and Mathematikawan, call it j.
[tex]S = \sqrt{s(s+1)} \hbar = \frac{\sqrt{3}}{2} \hbar[/tex]
Be careful of notation here: Upper-case S is the magnitude of the vector [itex]\vec S[/itex]. Lower-case s is the quantum number.
Where you're seeing "-1/2" it is surely referring to the quantum number that's associated with the component of [itex]\vec S[/itex] along a particular direction. Usually we call it the z-direction, so this component is called [itex]S_z[/itex]. Most of my books call this quantum number [itex]m_s[/itex]. Other books, and Fredrik and Mathematikawan, call it m.
[tex]S_z = m_s \hbar[/tex]
When s = 1/2, [itex]m_s[/itex] can have the values -1/2 or +1/2, and [itex]S_z[/itex] correspondingly can have the values [itex]- \hbar / 2[/itex] or [itex]+ \hbar / 2[/itex].
When s = 1, [itex]m_s[/itex] can have the values -1, 0 or +1. In this case, [itex]S = \sqrt{2} \hbar[/itex] and [itex]S_z[/itex] can have the values [itex]-\hbar[/itex], 0 or [itex]+\hbar[/itex].
When s = 3/2, [itex]m_s[/itex] can have the values -3/2, -1/2, +1/2 or +3/2. I leave it to you to write the corresponding values of S and [itex]S_z[/itex].
When s = 2, [itex]m_s[/itex] can have the values -2, -1, 0, +1 or +2.
A positive value for [itex]m_s[/itex] means that the vector [itex]\vec S[/itex] points more or less in the +z direction. A negative value indicates that [itex]\vec S[/itex] points more or less in the -z direction.