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

Schear Investment Advisers LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 50.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,184 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,438 shares during the period. Schear Investment Advisers LLC’s holdings in Micron Technology were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the second quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Micron Technology in the third quarter worth $26,000. Richard W. Paul & Associates LLC boosted its holdings in shares of Micron Technology by 128.6% in the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. LRI Investments LLC boosted its holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the period. Finally, Davis Capital Management bought a new position in shares of Micron Technology in the third quarter worth $30,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 2.9 %

MU opened at $96.34 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The business’s 50-day moving average price is $101.33 and its 200-day moving average price is $112.72.

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

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology’s payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of analyst reports. China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Susquehanna lowered their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. Morgan Stanley increased their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Citigroup lowered their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.04.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was 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 of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by 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.