Truist Financial Corp Purchases 20,209 Shares of Micron Technology, Inc. (NASDAQ:MU)

Truist Financial Corp grew its position in Micron Technology, Inc. (NASDAQ:MU) by 16.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,215 shares of the semiconductor manufacturer’s stock after buying an additional 20,209 shares during the period. Truist Financial Corp’s holdings in Micron Technology were worth $18,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after buying an additional 20,741 shares during the last quarter. Chapin Davis Inc. acquired a new stake in Micron Technology in the 2nd quarter worth approximately $4,056,000. Norden Group LLC increased its stake in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock valued at $5,910,000 after purchasing an additional 47,648 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after buying an additional 5,958 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Micron Technology during the first quarter worth $8,558,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MU shares. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.23.

Micron Technology Trading Up 2.0 %

Shares of Micron Technology stock opened at $101.82 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a twelve month low of $63.88 and a twelve month high of $157.54. The firm has a market capitalization of $112.90 billion, a PE ratio of -71.70, a P/E/G ratio of 0.20 and a beta of 1.17. The firm’s 50-day moving average price is $96.80 and its 200 day moving average price is $114.90.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the business posted ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% 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.