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

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 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 stock was sold at an average price of $130.00, for a total value 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 value 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 shares were 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 value of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00.
• On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $94.26, for a total value of $659,820.00.

Micron Technology Stock Performance

Shares of MU stock opened at $114.84 on Friday. The company has a market capitalization of $127.17 billion, a P/E ratio of -33.29 and a beta of 1.27. The business’s 50 day moving average is $105.94 and its two-hundred day moving average is $88.17. 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, Inc. has a 12-month low of $59.55 and a 12-month high of $130.54.

Micron Technology (NASDAQ:MU) last issued 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. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.03) earnings per share. Analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s dividend payout ratio is currently -13.33%.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the company. Revolve Wealth Partners LLC raised its stake in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in Micron Technology by 3.1% in the first quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock valued at $493,000 after buying an additional 124 shares in the last quarter. Sandy Spring Bank raised its stake in Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after buying an additional 130 shares in the last quarter. First Affirmative Financial Network raised its stake in Micron Technology by 4.7% in the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock valued at $347,000 after buying an additional 131 shares in the last quarter. Finally, HMS Capital Management LLC raised its stake in Micron Technology by 0.7% in the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MU. UBS Group upped their target price on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Bank of America boosted their price target on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. KeyCorp boosted their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. TD Cowen boosted their price target on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Wedbush boosted their price target on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.