Pacer Advisors Inc. Has $7.27 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Pacer Advisors Inc. decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,840 shares of the semiconductor manufacturer’s stock after selling 25,782 shares during the quarter. Pacer Advisors Inc.’s holdings in Micron Technology were worth $7,271,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Baystate Wealth Management LLC lifted its holdings in Micron Technology by 628.6% during the 2nd quarter. Baystate Wealth Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 440 shares during the last quarter. CX Institutional lifted its holdings in Micron Technology by 162.9% during the 2nd quarter. CX Institutional now owns 552 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 342 shares during the last quarter. RMR Wealth Builders acquired a new stake in Micron Technology during the 2nd quarter valued at $31,000. Pinnacle Bank lifted its holdings in Micron Technology by 261.0% during the 3rd quarter. Pinnacle Bank now owns 722 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 522 shares during the last quarter. Finally, CNB Bank acquired a new stake in Micron Technology during the 2nd quarter valued at $35,000. 79.66% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Scott J. Deboer sold 13,695 shares of Micron Technology stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $48.34, for a total transaction of $662,016.30. Following the completion of the transaction, the executive vice president now directly owns 142,063 shares in the company, valued at $6,867,325.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

A number of equities research analysts have recently weighed in on MU shares. Nomura Instinet lifted their target price on Micron Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Needham & Company LLC decreased their price target on Micron Technology from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Cascend Securities raised their price target on Micron Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Royal Bank of Canada decreased their price target on Micron Technology from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on Micron Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.71.

NASDAQ:MU traded down $0.04 during trading hours on Wednesday, reaching $53.49. The company had a trading volume of 561,958 shares, compared to its average volume of 24,383,975. The company has a quick ratio of 1.86, a current ratio of 2.71 and a debt-to-equity ratio of 0.16. The firm has a market cap of $59.47 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.51 and a beta of 1.29. The business’s 50-day simple moving average is $48.66 and its two-hundred day simple moving average is $47.93. Micron Technology, Inc. has a twelve month low of $31.13 and a twelve month high of $61.19.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 29th. The semiconductor manufacturer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 2.45 earnings per share for the current year.

About Micron Technology

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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