Runnymede Capital Advisors Inc. Takes $1.89 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Runnymede Capital Advisors Inc. purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,424 shares of the semiconductor manufacturer's stock, valued at approximately $1,887,000. Micron Technology accounts for about 1.6% of Runnymede Capital Advisors Inc.'s holdings, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mizuho Securities USA LLC raised its stake in Micron Technology by 46.1% in the fourth quarter. Mizuho Securities USA LLC now owns 105,084 shares of the semiconductor manufacturer's stock worth $8,844,000 after buying an additional 33,182 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Micron Technology in the 4th quarter worth $4,358,000. ZEGA Investments LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $164,000. HUB Investment Partners LLC boosted its position in Micron Technology by 255.8% during the fourth quarter. HUB Investment Partners LLC now owns 7,568 shares of the semiconductor manufacturer's stock valued at $637,000 after purchasing an additional 5,441 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its stake in Micron Technology by 46.2% in the fourth quarter. Blueshift Asset Management LLC now owns 10,289 shares of the semiconductor manufacturer's stock valued at $866,000 after purchasing an additional 3,251 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays increased their price target on shares of Micron Technology from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday. Piper Sandler decreased their target price on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a "buy" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $110.00 in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $130.00 target price on shares of Micron Technology in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.63.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the 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 directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU stock traded down $2.76 on Tuesday, hitting $94.18. The company had a trading volume of 22,163,705 shares, compared to its average volume of 22,527,407. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $104.93 billion, a P/E ratio of 27.14 and a beta of 1.23. The company has a 50-day moving average price of $96.86 and a 200-day moving average price of $98.40.

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

Micron Technology Announces Dividend

The company 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. 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 dividend payout ratio is presently 11.03%.

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.