Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells 5,210 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 5,210 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the sale, the chief executive officer now owns 379,675 shares of the company's stock, valued at approximately $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, June 16th, Sanjay Mehrotra sold 2,290 shares of Micron Technology stock. The stock was sold at an average price of $120.31, for a total value of $275,509.90.
• On Monday, June 9th, Sanjay Mehrotra sold 3,938 shares of Micron Technology stock. The shares were sold at an average price of $110.88, for a total value of $436,645.44.
• On Friday, June 6th, Sanjay Mehrotra sold 3,562 shares of Micron Technology stock. The shares were sold at an average price of $110.46, for a total value of $393,458.52.

Micron Technology Stock Performance

MU stock traded up $1.48 during trading on Wednesday, reaching $121.82. 20,156,669 shares of the stock were exchanged, compared to its average volume of 23,618,199. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.41. The company has a market capitalization of $136.14 billion, a P/E ratio of 27.04 and a beta of 1.28. The stock has a 50 day simple moving average of $90.13 and a 200-day simple moving average of $92.87. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MU shares. JPMorgan Chase & Co. cut their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Barclays cut their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. KGI Securities upgraded Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Finally, Morgan Stanley cut their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $129.00.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the first quarter valued at approximately $33,000. Curio Wealth LLC acquired a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. Finally, AllSquare Wealth Management LLC boosted its holdings in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.