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 firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were 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 $91,793,795.34. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, May 14th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.89, for a total transaction 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 transaction 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 value 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 value 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 value 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 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 transaction 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 transaction of $5,102,100.00.

Micron Technology Stock Performance

Shares of MU stock opened at $129.49 on Friday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $118.05 and a two-hundred day simple moving average of $95.68. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $131.95. The firm has a market capitalization of $143.39 billion, a PE ratio of -37.53 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm posted ($2.03) earnings per share. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 0.29 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MU has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Thursday, March 21st. Wedbush increased their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Barclays raised their price target on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.92.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. MGO One Seven LLC lifted its position in shares of Micron Technology by 247.3% during the 3rd quarter. MGO One Seven LLC now owns 13,713 shares of the semiconductor manufacturer’s stock worth $933,000 after buying an additional 9,765 shares in the last quarter. Signaturefd LLC grew its stake in Micron Technology by 5.9% in the 3rd quarter. Signaturefd LLC now owns 20,648 shares of the semiconductor manufacturer’s stock valued at $1,405,000 after purchasing an additional 1,152 shares during the period. Syon Capital LLC purchased a new stake in shares of Micron Technology during the 3rd quarter valued at $501,000. NBC Securities Inc. bought a new stake in shares of Micron Technology during the 3rd quarter worth $1,078,000. Finally, Empower Advisory Group LLC boosted its holdings in shares of Micron Technology by 4.1% in the 3rd quarter. Empower Advisory Group LLC now owns 4,935 shares of the semiconductor manufacturer’s stock worth $336,000 after buying an additional 194 shares during the last quarter. 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.