Sanjay Mehrotra Sells 5,137 Shares of Micron Technology (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 5,137 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $190.51, for a total value of $978,649.87. Following the sale, the chief executive officer owned 305,011 shares of the company’s stock, valued at approximately $58,107,645.61. This trade represents a 1.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 7th, Sanjay Mehrotra sold 21,563 shares of Micron Technology stock. The shares were sold at an average price of $188.47, for a total value of $4,063,978.61.
• On Monday, October 6th, Sanjay Mehrotra sold 10,800 shares of Micron Technology stock. The shares were sold at an average price of $194.44, for a total value of $2,099,952.00.
• On Wednesday, October 1st, Sanjay Mehrotra sold 15,000 shares of Micron Technology stock. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00.
• On Friday, September 19th, Sanjay Mehrotra sold 13,798 shares of Micron Technology stock. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60.
• On Thursday, September 18th, Sanjay Mehrotra sold 1,202 shares of Micron Technology stock. The shares were sold at an average price of $170.18, for a total value of $204,556.36.
• On Tuesday, September 16th, Sanjay Mehrotra sold 7,319 shares of Micron Technology stock. The stock was sold at an average price of $158.29, for a total value of $1,158,524.51.
• On Monday, September 15th, Sanjay Mehrotra sold 181 shares of Micron Technology stock. The stock was sold at an average price of $160.04, for a total value of $28,967.24.
• On Wednesday, September 10th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $140.58, for a total value of $1,054,350.00.
• On Friday, September 5th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $130.83, for a total value of $981,225.00.

Micron Technology Price Performance

Shares of MU opened at $196.54 on Thursday. The firm has a market cap of $220.61 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 0.41 and a beta of 1.56. The stock has a 50 day moving average of $139.60 and a 200-day moving average of $112.59. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $201.00.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently modified their holdings of the company. First Command Advisory Services Inc. increased its position in shares of Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new position in shares of Micron Technology during the 2nd quarter valued at $30,000. AlphaQuest LLC increased its position in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 265 shares during the period. WealthCollab LLC increased its position in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 270 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Micron Technology during the 2nd quarter valued at $37,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MU shares. UBS Group raised their price target on Micron Technology from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised their price target on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley raised Micron Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $160.00 to $220.00 in a report on Monday. Bank of America raised their price target on Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Raymond James Financial raised their price target on Micron Technology from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $190.48.

Micron Technology Company Profile

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.