Truist Financial Corp Has $8.13 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandy Spring Bank boosted its holdings in shares of Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares in the last quarter. HMS Capital Management LLC boosted its holdings in shares of Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after purchasing an additional 138 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 149 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Micron Technology by 3.0% in the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after purchasing an additional 150 shares in the last quarter. Finally, Homestead Advisers Corp boosted its holdings in shares of Micron Technology by 12.5% in the 3rd quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after purchasing an additional 152 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 2.1 %

Micron Technology stock opened at $114.70 on Friday. The stock has a market cap of $127.02 billion, a P/E ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The firm’s fifty day moving average price is $108.38 and its 200-day moving average price is $89.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.03) earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wedbush raised their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. KeyCorp raised their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Cantor Fitzgerald raised their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at $94,712,410. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock valued at $36,079,267 over the last 90 days. 0.32% of the stock is owned by 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.