Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells $804,090.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $82,597,158.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 stock was sold at an average price of $122.60, for a total transaction of $858,200.00.
• On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $130.00, for a total transaction 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 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 stock was 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 value of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $100.00, for a total transaction of $4,500,000.00.

Micron Technology Stock Performance

Shares of MU stock opened at $114.70 on Friday. The company has a 50-day simple moving average of $108.95 and a 200 day simple moving average of $89.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company has a market capitalization of $126.63 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a 52 week low of $59.55 and a 52 week high of $130.54.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is -13.33%.

Institutional Trading of Micron Technology

A number of institutional investors have recently bought and sold shares of the business. Revolve Wealth Partners LLC raised its stake in Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares in the last quarter. Retirement Group LLC grew its holdings in shares of Micron Technology by 37.3% during the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in Micron Technology by 3.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock worth $493,000 after purchasing an additional 124 shares in the last quarter. Sandy Spring Bank lifted its stake in Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares during the last quarter. Finally, PDS Planning Inc boosted its position in Micron Technology by 3.4% in the first quarter. PDS Planning Inc now owns 3,943 shares of the semiconductor manufacturer’s stock valued at $465,000 after buying an additional 130 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Wells Fargo & Company lifted their price target on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Robert W. Baird upped their price objective on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Bank of America lifted their target price on Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, March 21st. One investment 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 stock. Based on data from MarketBeat.com, Micron Technology has a consensus 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.