Micron Technology, Inc. $MU Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has decreased its stake in Micron Technology by 3.2%, owning 120,646 shares valued at approximately $14.87 million after selling 3,987 shares in the second quarter.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, with a dividend yield of 0.2% and an expected ex-dividend date of October 3rd.
• Wall Street analysts have recently rated Micron Technology with a consensus of "Moderate Buy", while price targets range from $145 to $220.

Truist Financial Corp decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,646 shares of the semiconductor manufacturer's stock after selling 3,987 shares during the period. Truist Financial Corp's holdings in Micron Technology were worth $14,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC raised its holdings in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology during the first quarter worth $36,000. Saudi Central Bank purchased a new stake in Micron Technology in the first quarter valued at $38,000. Finally, Highline Wealth Partners LLC boosted its holdings in Micron Technology by 68.5% in the first quarter. Highline Wealth Partners LLC now owns 502 shares of the semiconductor manufacturer's stock valued at $44,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 2.2%

Shares of MU opened at $187.83 on Friday. The stock has a 50 day moving average price of $134.89 and a 200 day moving average price of $110.76. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $191.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The stock has a market capitalization of $210.20 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MU shares. Wall Street Zen cut Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. The Goldman Sachs Group lifted their price target on Micron Technology from $130.00 to $145.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Erste Group Bank started coverage on Micron Technology in a research report on Thursday, August 14th. They issued a "buy" rating on the stock. Citigroup lifted their target price on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their target price on shares of Micron Technology from $170.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $184.77.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total value of $278,070.68. Following the transaction, the director directly owned 20,146 shares of the company's stock, valued at $2,330,287.82. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president owned 131,580 shares of the company's stock, valued at $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,456 shares of company stock worth $15,698,445 in the last quarter. 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.

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