Micron Technology (NASDAQ:MU) CEO Sanjay Mehrotra Sells 7,500 Shares

Key Points

• Sanjay Mehrotra, the CEO of Micron Technology, sold 7,500 shares of the company at an average price of $130.83, totaling approximately $981,225, which decreased his position by 2.03%.
• Micron's recent earnings report revealed an EPS of $1.91, exceeding analysts' expectations, with revenue at $9.30 billion, compared to the forecast of $8.83 billion.
• Analysts have raised their price targets for Micron Technology, with estimates now ranging from $150 to $170, indicating a generally bullish outlook for the stock.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,500 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $130.83, for a total value of $981,225.00. Following the transaction, the chief executive officer owned 362,648 shares in the company, valued at $47,445,237.84. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $121.35, for a total value of $632,233.50.
• On Monday, June 16th, Sanjay Mehrotra sold 2,290 shares of Micron Technology stock. The shares were sold at an average price of $120.31, for a total value of $275,509.90.

Micron Technology Trading Up 2.9%

Shares of NASDAQ MU traded up $3.78 during midday trading on Tuesday, reaching $135.24. 20,540,746 shares of the stock were exchanged, compared to its average volume of 16,020,426. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $138.00. The company has a market capitalization of $151.35 billion, a P/E ratio of 24.37 and a beta of 1.47. The stock has a 50 day moving average price of $118.01 and a 200-day moving average price of $101.90. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the previous year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

MU has been the topic of several research reports. KeyCorp raised their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wedbush boosted their price objective on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. TD Cowen lifted their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Citigroup boosted their price target on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company upped their target price on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $147.54.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Micron Technology by 1.9% during the second quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer's stock worth $12,803,168,000 after buying an additional 1,973,294 shares during the last quarter. State Street Corp grew its holdings in Micron Technology by 2.7% in the second quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer's stock worth $6,331,795,000 after purchasing an additional 1,349,713 shares during the period. Geode Capital Management LLC grew its holdings in Micron Technology by 1.2% in the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer's stock worth $3,152,974,000 after purchasing an additional 314,489 shares during the period. Norges Bank acquired a new stake in Micron Technology in the second quarter worth $1,980,700,000. Finally, Goldman Sachs Group Inc. grew its holdings in Micron Technology by 23.8% in the first 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 during the period. Institutional investors own 80.84% of the company's stock.

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.

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