Sanjay Mehrotra Sells 3,562 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 3,562 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total value of $393,458.52. Following the completion of the transaction, the chief executive officer now directly owns 391,113 shares of the company's stock, valued at approximately $43,202,341.98. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $110.88, for a total transaction of $436,645.44.

Micron Technology Price Performance

Micron Technology stock traded up $1.89 during trading hours on Wednesday, hitting $116.03. The stock had a trading volume of 21,558,700 shares, compared to its average volume of 23,683,958. The stock has a market capitalization of $129.67 billion, a price-to-earnings ratio of 33.44 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The stock's fifty day moving average is $86.24 and its two-hundred day moving average is $92.43.

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

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Barclays dropped their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Finally, Mizuho boosted their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Two investment 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $129.00.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of the stock. Xcel Wealth Management LLC boosted its holdings in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after purchasing an additional 108 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Micron Technology by 3.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after buying an additional 108 shares during the period. Twin Capital Management Inc. grew its position in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares in the last quarter. D.B. Root & Company LLC increased its stake in Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after acquiring an additional 108 shares during the period. Finally, Cim Investment Management Inc. increased its stake in Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after acquiring an additional 114 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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.