Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 22,000 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 22,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $76.94, for a total transaction of $1,692,680.00. Following the completion of the transaction, the chief executive officer now owns 748,759 shares of the company’s stock, valued at approximately $57,609,517.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, November 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $72.66, for a total value of $508,620.00.
• On Tuesday, October 31st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $66.13, for a total value of $462,910.00.
• On Tuesday, October 24th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $67.54, for a total value of $472,780.00.
• On Tuesday, October 17th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $69.00, for a total transaction of $483,000.00.
• On Tuesday, October 10th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $69.54, for a total value of $486,780.00.
• On Tuesday, October 3rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $68.19, for a total transaction of $477,330.00.
• On Tuesday, September 26th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $68.30, for a total value of $478,100.00.
• On Tuesday, September 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $70.39, for a total transaction of $492,730.00.
• On Tuesday, September 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $71.15, for a total transaction of $498,050.00.
• On Wednesday, September 6th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $70.11, for a total value of $490,770.00.

Micron Technology Stock Down 0.6 %

Micron Technology stock opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.46 and a quick ratio of 2.70. Micron Technology, Inc. has a one year low of $48.43 and a one year high of $77.50. The stock’s 50 day moving average price is $69.82 and its 200 day moving average price is $67.39.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 27th. The semiconductor manufacturer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.08. Micron Technology had a negative net margin of 37.53% and a negative return on equity of 11.65%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the business earned $1.36 EPS. The business’s revenue was down 39.6% on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post -2.52 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, October 10th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, October 6th. Micron Technology’s dividend payout ratio is currently -8.61%.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently bought and sold shares of MU. 25 LLC acquired a new position in Micron Technology in the first quarter worth about $25,000. Barrett & Company Inc. bought a new position in Micron Technology in the first quarter worth about $25,000. Fortis Capital Advisors LLC acquired a new position in Micron Technology during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in Micron Technology in the third quarter worth $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Micron Technology in the third quarter valued at $28,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MU shares. Mizuho upped their price target on shares of Micron Technology from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $85.00 in a research report on Monday, September 18th. Bank of America raised their price objective on Micron Technology from $70.00 to $77.00 in a research note on Tuesday, October 10th. Citigroup reissued a “buy” rating and issued a $85.00 target price on shares of Micron Technology in a report on Thursday, September 28th. Finally, The Goldman Sachs Group lifted their price target on Micron Technology from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

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.