Pacer Advisors Inc. Grows Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Pacer Advisors Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,716 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,180 shares during the period. Pacer Advisors Inc.’s holdings in Micron Technology were worth $12,263,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA raised its holdings in Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after acquiring an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Micron Technology in a research note on Wednesday, December 18th. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 3.1 %

Shares of NASDAQ:MU opened at $88.25 on Wednesday. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a market cap of $98.33 billion, a PE ratio of 25.43 and a beta of 1.18. The stock has a 50 day moving average of $98.23 and a 200 day moving average of $100.80. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.95) earnings per share. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

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.