Schear Investment Advisers LLC Has $1.13 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Schear Investment Advisers LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,438 shares of the semiconductor manufacturer’s stock after selling 2,746 shares during the quarter. Schear Investment Advisers LLC’s holdings in Micron Technology were worth $1,131,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stonebrook Private Inc. raised its position in Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 98 shares in the last quarter. John G Ullman & Associates Inc. raised its holdings in shares of Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after purchasing an additional 100 shares during the period. Trivant Custom Portfolio Group LLC raised its holdings in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Trust Co. of Vermont lifted its stake in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after purchasing an additional 103 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in Micron Technology by 2.4% during the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after purchasing an additional 104 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Down 1.9 %

MU stock opened at $94.08 on Wednesday. The firm has a market cap of $104.82 billion, a PE ratio of 27.11 and a beta of 1.18. The business has a 50 day moving average of $96.58 and a 200 day moving average of $98.88. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.95) EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several equities analysts have commented on MU shares. Barclays decreased their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Robert W. Baird decreased their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. UBS Group cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.96.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

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.