Schear Investment Advisers LLC Trims Position in Micron Technology, Inc. (NASDAQ:MU)

Schear Investment Advisers LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,251 shares of the semiconductor manufacturer’s stock after selling 579 shares during the period. Schear Investment Advisers LLC’s holdings in Micron Technology were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 411.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after purchasing an additional 12,286,893 shares during the last quarter. Norges Bank bought a new position in Micron Technology during the fourth quarter valued at $581,559,000. FMR LLC lifted its position in Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the last quarter. Morgan Stanley lifted its position in Micron Technology by 59.2% during the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock valued at $709,006,000 after purchasing an additional 5,274,984 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Down 4.3 %

NASDAQ MU traded down $4.83 during trading on Friday, reaching $107.10. 21,335,815 shares of the company’s stock traded hands, compared to its average volume of 20,460,953. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market cap of $118.60 billion, a price-to-earnings ratio of -31.17 and a beta of 1.27. The company’s 50 day simple moving average is $102.53 and its two-hundred day simple moving average is $86.40. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter last year, the firm posted ($2.03) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is currently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $70,970,130. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock valued at $33,617,027 in the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Bank of America raised their target price on shares of Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. KeyCorp raised their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Raymond James raised their target price on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.