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 Micron Technology stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $122.89, for a total value of $860,230.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company's stock, valued at $88,363,931.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, May 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $120.32, for a total value of $842,240.00.
• On Tuesday, April 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $114.87, for a total value of $804,090.00.
• On Tuesday, April 23rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $111.93, for a total value of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was 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 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 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 value of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were 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 shares were 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.

Micron Technology Price Performance

Shares of MU traded up $0.08 on Thursday, reaching $127.89. The stock had a trading volume of 15,858,130 shares, compared to its average volume of 19,731,939. The firm has a market capitalization of $141.62 billion, a PE ratio of -37.07 and a beta of 1.27. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $113.57 and a 200 day moving average of $92.88. Micron Technology, Inc. has a twelve month low of $60.50 and a twelve month high of $130.54.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is currently -13.33%.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its stake in shares of Micron Technology by 18.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 26,964 shares of the semiconductor manufacturer's stock worth $3,179,000 after purchasing an additional 4,230 shares during the period. Dynasty Wealth Management LLC purchased a new position in shares of Micron Technology during the 1st quarter worth $1,617,000. Janus Henderson Group PLC lifted its stake in shares of Micron Technology by 16.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,126,081 shares of the semiconductor manufacturer's stock worth $250,612,000 after purchasing an additional 306,229 shares during the period. Kingdon Capital Management L.L.C. purchased a new position in shares of Micron Technology during the 1st quarter worth $8,547,000. Finally, Waverly Advisors LLC lifted its stake in shares of Micron Technology by 32.4% during the 1st quarter. Waverly Advisors LLC now owns 15,077 shares of the semiconductor manufacturer's stock worth $1,777,000 after purchasing an additional 3,689 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MU. Bank of America boosted their target price on Micron Technology from $120.00 to $144.00 and gave the company a "buy" rating in a report on Monday, April 1st. Piper Sandler boosted their price target on Micron Technology from $95.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their price target on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. TD Cowen boosted their price target on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, March 21st. Finally, Robert W. Baird upgraded Micron Technology from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $115.00 to $150.00 in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.60.

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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