Micron Technology (NASDAQ:MU) CEO Sells $1,054,350.00 in Stock

Key Points

• Micron Technology CEO Sanjay Mehrotra sold 7,500 shares for $1,054,350, reducing his stake by 2.07% to 355,148 shares worth approximately $49.9 million.
• The company's stock saw a 4.4% increase, trading at $157.23 after a significant volume of 32,223,879 shares exchanged, outperforming its average volume.
• Micron reported an earnings per share (EPS) of $1.91 for the last quarter, exceeding analyst expectations, with revenue of $9.30 billion against a forecast of $8.83 billion.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,500 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $140.58, for a total transaction of $1,054,350.00. Following the transaction, the chief executive officer owned 355,148 shares in the company, valued at $49,926,705.84. This represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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.
• 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 transaction of $632,233.50.
• 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 transaction of $275,509.90.

Micron Technology Stock Up 4.4%

Shares of NASDAQ:MU traded up $6.66 during midday trading on Friday, hitting $157.23. 32,223,879 shares of the company's stock were exchanged, compared to its average volume of 18,134,322. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock has a 50 day moving average price of $119.23 and a 200-day moving average price of $102.77. The company has a market cap of $175.96 billion, a PE ratio of 28.33 and a beta of 1.47. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $158.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS 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 the consensus estimate of $8.83 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MU shares. Mizuho upped their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. CLSA initiated coverage on shares of Micron Technology in a research report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 target price for the company. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. KeyCorp increased their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Wedbush upped their price target on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $151.76.

Institutional Trading of Micron Technology

Several hedge funds have recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its position in shares of Micron Technology by 15.6% during the second quarter. Valeo Financial Advisors LLC now owns 10,750 shares of the semiconductor manufacturer's stock valued at $1,325,000 after buying an additional 1,447 shares during the last quarter. Silicon Valley Capital Partners raised its position in Micron Technology by 56.1% during the 2nd quarter. Silicon Valley Capital Partners now owns 5,583 shares of the semiconductor manufacturer's stock worth $688,000 after buying an additional 2,006 shares during the last quarter. WT Wealth Management purchased a new position in Micron Technology during the 2nd quarter worth approximately $260,000. SevenBridge Financial Group LLC purchased a new position in Micron Technology during the 2nd quarter worth approximately $232,000. Finally, Orion Porfolio Solutions LLC increased its holdings in shares of Micron Technology by 8.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 58,300 shares of the semiconductor manufacturer's stock valued at $7,185,000 after purchasing an additional 4,583 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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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