Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells 7,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $120.70, for a total value of $844,900.00.
• On Tuesday, April 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 shares were 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 shares were sold at an average price of $122.09, for a total transaction 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 stock was sold at an average price of $95.64, for a total transaction of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was 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 stock was sold at an average price of $94.26, for a total transaction of $659,820.00.

Micron Technology Trading Down 0.2 %

Shares of NASDAQ:MU traded down $0.20 during trading hours on Thursday, hitting $111.58. 18,231,824 shares of the company's stock traded hands, compared to its average volume of 20,560,361. The business has a fifty day moving average price of $104.64 and a 200-day moving average price of $87.69. Micron Technology, Inc. has a 1 year low of $59.34 and a 1 year high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market capitalization of $123.56 billion, a P/E ratio of -32.14 and a beta of 1.27.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm's quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.03) EPS. Equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology's payout ratio is currently -13.33%.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the company. Tidemark LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the 4th quarter valued at about $26,000. Riverview Trust Co acquired a new position in shares of Micron Technology in the first quarter valued at about $39,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth about $29,000. Finally, Activest Wealth Management boosted its position in Micron Technology by 487.5% in the first quarter. Activest Wealth Management now owns 376 shares of the semiconductor manufacturer's stock valued at $44,000 after buying an additional 312 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $140.00 price objective on shares of Micron Technology in a research note on Friday, April 12th. Raymond James upped their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. Robert W. Baird upped their price target on Micron Technology from $78.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Wells Fargo & Company boosted their target price on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, Argus upgraded Micron Technology from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.20.

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.

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.