Runnymede Capital Advisors Inc. Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

Runnymede Capital Advisors Inc. purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 22,424 shares of the semiconductor manufacturer’s stock, valued at approximately $1,887,000. Micron Technology makes up approximately 1.6% of Runnymede Capital Advisors Inc.’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors also recently modified their holdings of MU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Micron Technology by 21.7% in 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 worth $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Micron Technology in the 4th quarter worth approximately $135,865,000. State Street Corp lifted its stake in Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its stake in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock worth $192,840,000 after purchasing an additional 1,334,690 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of Micron Technology during the 3rd quarter valued at $102,018,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $94.72 on Friday. The company’s fifty day simple moving average is $96.82 and its two-hundred day simple moving average is $98.21. The firm has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MU shares. JPMorgan Chase & Co. lowered their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. 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 raised 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. KGI Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.63.

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.