Micron Technology (NASDAQ:MU) CEO Sells $2,099,952.00 in Stock

Key Points

• Sanjay Mehrotra, CEO of Micron Technology, sold 10,800 shares of the company’s stock for $2,099,952, representing a 3.54% decrease in his holdings.
• Micron Technology announced a quarterly dividend of $0.115, with the ex-dividend date set for October 3rd.
• Several analysts have recently adjusted their price targets for Micron, with estimates now ranging from $175 to $220, indicating an overall positive sentiment towards the stock.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 10,800 shares of the company's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $194.44, for a total value of $2,099,952.00. Following the completion of the transaction, the chief executive officer directly owned 294,211 shares of the company's stock, valued at $57,206,386.84. The trade was a 3.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, October 7th, Sanjay Mehrotra sold 21,563 shares of Micron Technology stock. The stock was sold at an average price of $188.47, for a total value of $4,063,978.61.
• On Friday, October 3rd, Sanjay Mehrotra sold 5,137 shares of Micron Technology stock. The stock was sold at an average price of $190.51, for a total value of $978,649.87.
• On Wednesday, October 1st, Sanjay Mehrotra sold 15,000 shares of Micron Technology stock. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00.
• On Friday, September 19th, Sanjay Mehrotra sold 13,798 shares of Micron Technology stock. The stock was sold at an average price of $162.20, for a total value of $2,238,035.60.
• 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 value 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 value of $1,158,524.51.
• On Monday, September 15th, Sanjay Mehrotra sold 181 shares of Micron Technology stock. The shares were 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 shares were sold at an average price of $140.58, for a total value of $1,054,350.00.
• On Friday, September 5th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The shares were sold at an average price of $130.83, for a total value of $981,225.00.

Micron Technology Trading Down 2.8%

Shares of NASDAQ:MU traded down $5.27 during mid-day trading on Tuesday, reaching $185.69. 27,770,744 shares of the company were exchanged, compared to its average volume of 30,715,804. The firm has a market cap of $208.43 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 0.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00. The firm's 50-day simple moving average is $137.96 and its 200 day simple moving average is $112.01.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology's payout ratio is 6.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MU. Brighton Jones LLC increased its stake in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares in the last quarter. Vest Financial LLC acquired a new stake in Micron Technology during the first quarter worth approximately $577,000. Sivia Capital Partners LLC acquired a new stake in Micron Technology during the first quarter worth approximately $252,000. Wedmont Private Capital boosted its position in Micron Technology by 3.0% during the first quarter. Wedmont Private Capital now owns 13,766 shares of the semiconductor manufacturer's stock worth $1,196,000 after acquiring an additional 397 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in Micron Technology by 36.7% during the first quarter. Miracle Mile Advisors LLC now owns 4,104 shares of the semiconductor manufacturer's stock worth $357,000 after acquiring an additional 1,102 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Wolfe Research boosted their target price on shares of Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Wedbush boosted their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Mizuho boosted their target price on shares of Micron Technology from $182.00 to $195.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $189.37.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.