Pacer Advisors Inc. Buys 4,968 Shares of Micron Technology, Inc. (NASDAQ:MU)

Pacer Advisors Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 136,536 shares of the semiconductor manufacturer's stock after buying an additional 4,968 shares during the period. Pacer Advisors Inc.'s holdings in Micron Technology were worth $14,160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Investments Inc lifted its holdings in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer's stock worth $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC lifted its holdings in Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer's stock worth $43,000 after acquiring an additional 94 shares in the last quarter. Ameritas Advisory Services LLC lifted its holdings in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC lifted 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 valued at $36,000 after purchasing an additional 99 shares in the last quarter. Finally, E&G Advisors LP lifted its holdings in shares of Micron Technology by 5.2% in the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer's stock valued at $265,000 after purchasing an additional 100 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. KeyCorp dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 8th. Susquehanna dropped their target price on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Stifel Nicolaus dropped their target price on Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, September 19th. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Morgan Stanley boosted their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $143.04.

Micron Technology Stock Performance

Shares of Micron Technology stock traded down $0.12 during mid-day trading on Friday, hitting $102.64. 12,063,730 shares of the stock were exchanged, compared to its average volume of 15,594,738. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54. The company has a 50-day simple moving average of $102.46 and a 200 day simple moving average of $112.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $113.80 billion, a P/E ratio of 150.94 and a beta of 1.18.

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

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology's payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Micron Technology Company 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.