Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,207 shares of the semiconductor manufacturer’s stock after selling 28,481 shares during the period. Truist Financial Corp’s holdings in Micron Technology were worth $8,125,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MU. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Micron Technology in the third quarter valued at approximately $28,000. VisionPoint Advisory Group LLC raised its holdings in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC now owns 488 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 198 shares during the period. Cape Investment Advisory Inc. raised its holdings in Micron Technology by 51.0% in the third quarter. Cape Investment Advisory Inc. now owns 592 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 200 shares during the period. Finally, Clear Street Markets LLC raised its holdings in Micron Technology by 67.5% in the third quarter. Clear Street Markets LLC now owns 623 shares of the semiconductor manufacturer’s stock valued at $42,000 after buying an additional 251 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the topic of several research reports. UBS Group raised their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Wedbush raised their price target on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Morgan Stanley raised their price target on shares of Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Piper Sandler increased their price objective on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.00, for a total value of $4,500,000.00. Following the transaction, the chief executive officer now directly owns 773,557 shares in the company, valued at $77,355,700. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock worth $36,079,267 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Micron Technology stock opened at $114.70 on Friday. The company has a market cap of $127.02 billion, a PE ratio of -33.25 and a beta of 1.27. The company has a fifty day moving average price of $108.38 and a two-hundred day moving average price of $89.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period last year, the business posted ($2.03) earnings per share. Research analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

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.