Sanibel Captiva Trust Company Inc. Has $3.48 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Sanibel Captiva Trust Company Inc. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,997 shares of the semiconductor manufacturer's stock after acquiring an additional 16,161 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Micron Technology were worth $3,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the 4th quarter worth about $26,000. Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter valued at about $33,000. Roxbury Financial LLC raised its stake in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of MU traded down $0.58 during trading hours on Friday, reaching $115.60. 17,402,839 shares of the company's stock traded hands, compared to its average volume of 23,659,570. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.54. The business's fifty day simple moving average is $87.20 and its two-hundred day simple moving average is $92.51. 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 firm has a market capitalization of $129.19 billion, a price-to-earnings ratio of 33.31 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its 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. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. Micron Technology's revenue was up 38.2% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is presently 11.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Barclays decreased their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Citigroup lifted their price target on shares of Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a report on Monday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,904 shares of company stock valued at $4,665,124 over the last quarter. Corporate insiders own 0.30% of the company's stock.

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.