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

Sanibel Captiva Trust Company Inc. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 177.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,836 shares of the semiconductor manufacturer's stock after acquiring an additional 15,245 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Micron Technology were worth $2,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Micron Technology by 3.1% during 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 during the period. Primecap Management Co. CA boosted its stake in shares of Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer's stock worth $3,902,800,000 after acquiring an additional 206,499 shares in the last quarter. Geode Capital Management LLC grew its holdings in Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer's stock valued at $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Micron Technology by 21.7% during 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 valued at $1,174,643,000 after acquiring an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Up 3.1 %

NASDAQ MU traded up $3.15 on Friday, hitting $105.75. 18,832,956 shares of the stock traded hands, compared to its average volume of 29,325,942. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The stock has a 50-day moving average of $97.87 and a 200 day moving average of $102.27.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the business posted ($0.95) EPS. The company's quarterly revenue was up 84.3% on a year-over-year basis. As a group, analysts expect that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is 13.26%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MU shares. Piper Sandler reduced their price objective on Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Susquehanna reduced their target price on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $135.24.

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.