Sanibel Captiva Trust Company Inc. Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Sanibel Captiva Trust Company Inc. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 177.5% in the 4th quarter, HoldingsChannel reports. The fund owned 23,836 shares of the semiconductor manufacturer’s stock after buying an additional 15,245 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Micron Technology were worth $2,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the third quarter valued at about $26,000. Davis Capital Management purchased a new position in Micron Technology during the 3rd quarter valued at about $30,000. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. DT Investment Partners LLC lifted its holdings in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the period. Finally, Stone House Investment Management LLC grew its position in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU opened at $105.75 on Friday. The company has a market cap of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The business’s fifty day simple moving average is $97.87 and its two-hundred day simple moving average is $102.48. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 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 84.3% on a year-over-year basis. During the same period last year, the company earned ($0.95) EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. China Renaissance began coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. Finally, Piper Sandler decreased their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

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.