Schnieders Capital Management LLC Sells 6,525 Shares of Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Schnieders Capital Management LLC has reduced its stake in Micron Technology by 39.2%, selling 6,525 shares and now owning 10,117 shares, valued at approximately $879,000.
• Micron Technology reported an EPS of $1.91 for the latest quarter, exceeding analysts' expectations of $1.57, with a revenue of $9.30 billion.
• In stock analyst updates, Morgan Stanley and JPMorgan Chase & Co. have increased their price targets for Micron Technology to $135.00 and $165.00, respectively, with most analysts rating it as a "Moderate Buy".

Schnieders Capital Management LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,117 shares of the semiconductor manufacturer's stock after selling 6,525 shares during the period. Schnieders Capital Management LLC's holdings in Micron Technology were worth $879,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter valued at $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology during the 1st quarter valued at $36,000. Finally, Roxbury Financial LLC increased its holdings in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. JPMorgan Chase & Co. raised their price target on Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Wedbush increased their price objective on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Mizuho increased their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, KeyCorp increased their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.44.

Insider Activity

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president owned 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 286,042 shares of company stock valued at $34,679,277. Company insiders own 0.30% of the company's stock.

Micron Technology Trading Up 2.8%

Shares of Micron Technology stock traded up $3.09 during trading on Thursday, reaching $111.87. 18,953,427 shares of the company were exchanged, compared to its average volume of 21,117,796. The business has a 50-day moving average price of $115.46 and a 200-day moving average price of $98.13. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $125.20 billion, a price-to-earnings ratio of 20.16 and a beta of 1.37. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the previous year, the company posted $0.62 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's payout ratio 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.