Schear Investment Advisers LLC Purchases 5,438 Shares of Micron Technology, Inc. (NASDAQ:MU)

Schear Investment Advisers LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 50.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,184 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,438 shares during the quarter. Schear Investment Advisers LLC’s holdings in Micron Technology were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital World Investors boosted its position in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Capital International Investors boosted its position in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares in the last quarter. Finally, Boston Partners raised its holdings in Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock worth $534,189,000 after acquiring an additional 61,127 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 2.9 %

Shares of Micron Technology stock opened at $96.34 on Friday. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a fifty day moving average of $101.33 and a 200 day moving average of $112.72. Micron Technology, Inc. has a fifty-two week low of $72.93 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.21) EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Bank of America boosted their price objective on shares of Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

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.