Sanjay Mehrotra Sells 3,938 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 3,938 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.88, for a total value of $436,645.44. Following the transaction, the chief executive officer now owns 387,175 shares in the company, valued at $42,929,964. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $393,458.52.

Micron Technology Trading Down 0.0%

NASDAQ MU traded down $0.02 during trading hours on Friday, reaching $116.16. The company had a trading volume of 8,982,623 shares, compared to its average volume of 23,627,074. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock has a market capitalization of $129.81 billion, a P/E ratio of 33.44 and a beta of 1.28. The stock has a 50-day moving average of $87.20 and a 200 day moving average of $92.51. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. Micron Technology's dividend payout ratio is currently 11.03%.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $26,000. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 200 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter valued at $33,000. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $33,000. Finally, Roxbury Financial LLC boosted its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MU shares. Morgan Stanley reduced their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Mizuho increased their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Rosenblatt Securities lowered their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Barclays decreased their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.00.

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.