Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 2,290 Shares

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 2,290 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the transaction, the chief executive officer now owns 384,885 shares in the company, valued at $46,305,514.35. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, June 17th, Sanjay Mehrotra sold 5,210 shares of Micron Technology stock. The shares were sold at an average price of $121.35, for a total value of $632,233.50.
• 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 Up 1.2%

Shares of MU traded up $1.48 during midday trading on Wednesday, hitting $121.82. The stock had a trading volume of 20,156,669 shares, compared to its average volume of 23,618,199. The company has a 50 day simple moving average of $90.13 and a two-hundred day simple moving average of $92.87. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $157.41. The firm has a market cap of $136.14 billion, a price-to-earnings ratio of 27.04 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is 11.03%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MU. Citigroup raised their price target on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Rosenblatt Securities reduced their price target on Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays reduced their price target on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Robert W. Baird raised their price target on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of MU. E Fund Management Co. Ltd. grew its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock valued at $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after acquiring an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of Micron Technology in the 4th quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 74.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after acquiring an additional 1,130,680 shares in the last quarter. Institutional investors and hedge funds 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.

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