22,424 Shares in Micron Technology, Inc. (NASDAQ:MU) Purchased by Runnymede Capital Advisors Inc.

Runnymede Capital Advisors Inc. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,424 shares of the semiconductor manufacturer’s stock, valued at approximately $1,887,000. Micron Technology makes up about 1.6% of Runnymede Capital Advisors Inc.’s portfolio, making the stock its 13th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% in the third 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 worth $1,174,643,000 after buying an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Micron Technology in the fourth quarter worth approximately $135,865,000. State Street Corp lifted its stake in shares of Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its stake in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after buying an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in shares of Micron Technology in the third quarter worth approximately $102,018,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $94.72 on Friday. The firm has a fifty day moving average price of $96.82 and a 200-day moving average price of $98.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. Micron Technology, Inc. has a 1 year low of $83.54 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 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 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.49%. Micron Technology’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MU. UBS Group upped their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Mizuho lowered their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research report on Monday, March 17th. Barclays increased their price objective on shares of Micron Technology from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.63.

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.