Micron Technology, Inc. (NASDAQ:MU) CEO Sells $844,900.00 in Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $86,789,214.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, April 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.60, for a total value of $858,200.00.
• On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00.
• On Tuesday, April 2nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.09, for a total value of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $120.00, for a total value of $5,400,000.00.
• On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $113.38, for a total value of $5,102,100.00.
• On Tuesday, March 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $93.08, for a total value of $651,560.00.
• On Tuesday, March 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $95.64, for a total value of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00.
• On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $94.26, for a total value of $659,820.00.
• On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $91.54, for a total value of $640,780.00.

Micron Technology Price Performance

MU stock traded down $5.44 during trading on Wednesday, hitting $116.33. The stock had a trading volume of 25,388,117 shares, compared to its average volume of 20,300,941. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology, Inc. has a twelve month low of $58.03 and a twelve month high of $130.54. The stock has a market capitalization of $128.82 billion, a P/E ratio of -33.72 and a beta of 1.27. The company's 50-day moving average price is $101.36 and its two-hundred day moving average price is $86.01.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business's revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.03) EPS. As a group, research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio is currently -13.33%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Mizuho raised their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. StockNews.com raised Micron Technology from a "sell" rating to a "hold" rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Piper Sandler raised their target price on Micron Technology from $95.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Finally, Citigroup restated a "buy" rating and issued a $150.00 target price on shares of Micron Technology in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.20.

Institutional Trading of Micron Technology

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in Micron Technology by 411.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer's stock valued at $763,398,000 after purchasing an additional 12,286,893 shares during the period. Norges Bank purchased a new stake in Micron Technology in the fourth quarter valued at approximately $581,559,000. FMR LLC raised its position in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer's stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Morgan Stanley raised its position in Micron Technology by 59.2% in the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer's stock valued at $709,006,000 after purchasing an additional 5,274,984 shares during the period. Finally, Wellington Management Group LLP raised its position in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer's stock valued at $1,182,608,000 after purchasing an additional 5,257,201 shares during the period. Hedge funds and other institutional investors 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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