Sanjay Mehrotra Sells 7,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $82,597,158.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sanjay Mehrotra also recently made the following trade(s):

• On Tuesday, April 23rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $111.93, for a total value of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00.
• On Tuesday, April 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.60, for a total transaction of $858,200.00.
• On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00.
• On Tuesday, April 2nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $120.00, for a total value of $5,400,000.00.
• On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $113.38, for a total value of $5,102,100.00.
• On Tuesday, March 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $93.08, for a total value of $651,560.00.
• On Tuesday, March 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $95.64, for a total transaction of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00.

Micron Technology Trading Up 2.1 %

Micron Technology stock opened at $114.70 on Friday. The firm has a market cap of $126.63 billion, a PE ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The stock’s 50 day simple moving average is $108.95 and its two-hundred day simple moving average is $89.67. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

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

Micron Technology Announces Dividend

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

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its position in shares of Micron Technology by 411.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,657 shares of the semiconductor manufacturer’s stock valued at $317,000 after buying an additional 3,746 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Micron Technology by 64.6% during the third quarter. Kingswood Wealth Advisors LLC now owns 5,706 shares of the semiconductor manufacturer’s stock valued at $388,000 after purchasing an additional 2,240 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Micron Technology by 10.2% in the third quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer’s stock valued at $996,000 after purchasing an additional 1,355 shares during the period. Independent Advisor Alliance increased its stake in shares of Micron Technology by 20.9% during the third quarter. Independent Advisor Alliance now owns 54,730 shares of the semiconductor manufacturer’s stock worth $3,723,000 after purchasing an additional 9,443 shares in the last quarter. Finally, NorthRock Partners LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $214,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. Citigroup restated a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. Stifel Nicolaus restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Friday, April 12th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Cantor Fitzgerald raised their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Mizuho upped their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.20.

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.