Micron Technology, Inc. (NASDAQ:MU) CEO Sells $893,620.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $127.66, for a total transaction of $893,620.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $91,793,795.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, May 14th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.89, for a total value of $860,230.00.
• On Tuesday, May 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $120.32, for a total value of $842,240.00.
• On Tuesday, April 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $114.87, for a total value of $804,090.00.
• 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 transaction of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 stock was 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 shares were 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 shares were sold at an average price of $122.09, for a total value of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was 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 shares were sold at an average price of $113.38, for a total value of $5,102,100.00.

Micron Technology Trading Up 2.6 %

Micron Technology stock opened at $129.49 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm’s 50 day moving average price is $118.05 and its 200-day moving average price is $95.68. Micron Technology, Inc. has a 1 year low of $60.50 and a 1 year high of $131.95. The stock has a market cap of $143.39 billion, a P/E ratio of -37.53 and a beta of 1.27.

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, beating 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 company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm posted ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

MU has been the topic of several research analyst reports. Citigroup restated a “buy” rating and set a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. Mizuho increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, May 17th. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Piper Sandler increased their price target on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, UBS Group boosted their price target on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $126.92.

Institutional Trading of Micron Technology

A number of large investors have recently added to or reduced their stakes in MU. Tidemark LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $25,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the first quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the fourth quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $29,000. Institutional investors own 80.84% of the company’s stock.

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.