Micron Technology (NASDAQ:MU) CEO Sanjay Mehrotra Sells 13,798 Shares

Key Points

• Sanjay Mehrotra, CEO of Micron Technology, sold 13,798 shares of the company on September 19th for approximately $2.24 million, which reduced his ownership by 4.07%.
• Micron Technology's stock price increased by 1.2% to $164.62 during recent trading, with 25.7 million shares exchanged, surpassing its average volume.
• Several analysts have raised their price targets for Micron stock, with increases ranging from $160 to $200, reflecting growing confidence in the company's performance.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 13,798 shares of Micron Technology stock in a transaction on Friday, September 19th. The stock was sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the sale, the chief executive officer directly owned 325,148 shares in the company, valued at $52,739,005.60. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, September 18th, Sanjay Mehrotra sold 1,202 shares of Micron Technology stock. The stock was sold at an average price of $170.18, for a total transaction of $204,556.36.
• On Tuesday, September 16th, Sanjay Mehrotra sold 7,319 shares of Micron Technology stock. The stock was sold at an average price of $158.29, for a total transaction of $1,158,524.51.
• On Monday, September 15th, Sanjay Mehrotra sold 181 shares of Micron Technology stock. The stock was sold at an average price of $160.04, for a total transaction of $28,967.24.
• On Wednesday, September 10th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $140.58, for a total transaction of $1,054,350.00.
• On Friday, September 5th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $130.83, for a total transaction of $981,225.00.

Micron Technology Stock Up 1.2%

MU stock traded up $1.89 during mid-day trading on Monday, hitting $164.62. 25,713,979 shares of the company were exchanged, compared to its average volume of 22,822,631. The company has a market capitalization of $184.23 billion, a PE ratio of 29.66 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $170.45. The firm has a fifty day simple moving average of $123.82 and a 200 day simple moving average of $105.77.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's payout ratio is 8.29%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wolfe Research lifted their price target on shares of Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. TD Cowen lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Wells Fargo & Company lifted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Robert W. Baird lifted their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $165.54.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently made changes to their positions in MU. Norges Bank acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $1,980,700,000. Nuveen LLC acquired a new stake in shares of Micron Technology during the 1st quarter worth about $369,191,000. Slate Path Capital LP acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $317,751,000. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 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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