Sanjay Mehrotra Sells 7,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $86,789,214.30. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 stock was 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 stock was 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 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 shares were 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 shares were 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 value of $4,500,000.00.
• On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $94.26, for a total value of $659,820.00.
• On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $91.54, for a total value of $640,780.00.

Micron Technology Trading Down 3.8 %

Micron Technology stock opened at $111.93 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54. The company has a market capitalization of $123.95 billion, a price-to-earnings ratio of -32.44 and a beta of 1.27. The stock has a 50-day moving average price of $102.53 and a 200 day moving average price of $86.40.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS 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 firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) earnings per share. The company’s revenue was up 57.7% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MU shares. Piper Sandler increased their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Citigroup reissued a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Mizuho increased their price target on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Raymond James increased their price target on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, UBS Group increased their price target on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $122.20.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of MU. Price T Rowe Associates Inc. MD lifted its holdings in Micron Technology by 411.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,274,070 shares of the semiconductor manufacturer’s stock valued at $763,398,000 after acquiring an additional 12,286,893 shares during the period. Norges Bank acquired a new position in Micron Technology in the fourth quarter valued at approximately $581,559,000. FMR LLC lifted its holdings in Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares during the period. Morgan Stanley lifted its holdings in Micron Technology by 59.2% in the fourth quarter. Morgan Stanley now owns 14,185,790 shares of the semiconductor manufacturer’s stock valued at $709,006,000 after acquiring an additional 5,274,984 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.