Schear Investment Advisers LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Schear Investment Advisers LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,356 shares of the semiconductor manufacturer's stock after purchasing an additional 6,918 shares during the period. Schear Investment Advisers LLC's holdings in Micron Technology were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sunbeam Capital Management LLC purchased a new position in Micron Technology during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter valued at about $33,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter valued at about $34,000. Hurley Capital LLC purchased a new position in Micron Technology during the 4th quarter valued at about $37,000. Finally, Roxbury Financial LLC raised its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MU. Piper Sandler lifted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Needham & Company LLC lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Rosenblatt Securities lifted their price target on shares of Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company lifted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada set a $125.00 target price on shares of Micron Technology in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $146.44.

Insider Buying and Selling at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,446 shares of company stock valued at $31,154,717 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $124.53 on Friday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $135.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The firm has a fifty day moving average price of $108.03 and a 200 day moving average price of $95.97. The firm has a market cap of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business earned $0.62 earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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.

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