Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells 3,562 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 3,562 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $110.46, for a total value of $393,458.52. Following the sale, the chief executive officer now directly owns 391,113 shares in the company, valued at $43,202,341.98. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 9th, Sanjay Mehrotra sold 3,938 shares of Micron Technology stock. The stock was sold at an average price of $110.88, for a total value of $436,645.44.

Micron Technology Price Performance

Micron Technology stock traded down $0.58 during midday trading on Friday, reaching $115.60. The company had a trading volume of 17,402,839 shares, compared to its average volume of 23,689,160. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm's fifty day simple moving average is $88.20 and its 200-day simple moving average is $92.60. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a market capitalization of $129.19 billion, a P/E ratio of 33.31 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $0.42 EPS. The business's revenue was up 38.2% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is 11.03%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MU. Robert W. Baird raised their target price on Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday, March 21st. UBS Group raised their target price on Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. dropped their target price on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley dropped their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $129.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MU. Norges Bank purchased a new position in Micron Technology in the 4th quarter worth approximately $1,470,875,000. Capital World Investors lifted its stake in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC lifted its stake in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors lifted its stake in Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock valued at $1,383,442,000 after buying an additional 4,375,232 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.