Micron Technology, Inc. (NASDAQ:MU) CEO Sells $593,880.00 in Stock

Micron Technology, Inc. (NASDAQ:MUGet Free Report) CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $66,901,175.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Tuesday, January 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00.
  • On Thursday, January 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00.
  • On Tuesday, January 23rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $87.41, for a total transaction of $611,870.00.
  • On Wednesday, January 17th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $83.20, for a total transaction of $582,400.00.
  • On Tuesday, January 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $83.63, for a total transaction of $585,410.00.
  • On Wednesday, January 3rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $82.13, for a total transaction of $574,910.00.
  • On Wednesday, December 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $86.52, for a total transaction of $605,640.00.
  • On Tuesday, December 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $81.61, for a total transaction of $571,270.00.
  • On Wednesday, December 13th, Sanjay Mehrotra sold 127,000 shares of Micron Technology stock. The stock was sold at an average price of $80.01, for a total transaction of $10,161,270.00.
  • On Tuesday, December 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $73.55, for a total transaction of $514,850.00.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $85.56 on Friday. The stock has a market capitalization of $94.45 billion, a P/E ratio of -13.62 and a beta of 1.24. Micron Technology, Inc. has a 1-year low of $52.76 and a 1-year high of $90.04. The company has a current ratio of 3.53, a quick ratio of 2.14 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $83.45 and a two-hundred day moving average price of $74.54.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.06. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Micron Technology had a negative return on equity of 14.44% and a negative net margin of 42.47%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Equities analysts predict that Micron Technology, Inc. will post -0.99 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Tuesday, January 2nd were paid a $0.115 dividend. The ex-dividend date was Friday, December 29th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. Micron Technology’s dividend payout ratio (DPR) is presently -7.32%.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock valued at $6,410,412,000 after acquiring an additional 305,860 shares during the last quarter. State Street Corp grew its position in shares of Micron Technology by 0.6% in the 2nd quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after purchasing an additional 282,292 shares during the period. FMR LLC grew its position in shares of Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after purchasing an additional 7,089,790 shares during the period. Capital World Investors grew its position in shares of Micron Technology by 19.8% in the 2nd quarter. Capital World Investors now owns 21,320,648 shares of the semiconductor manufacturer’s stock valued at $1,345,546,000 after purchasing an additional 3,523,684 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Micron Technology by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 20,833,138 shares of the semiconductor manufacturer’s stock valued at $1,311,265,000 after purchasing an additional 484,293 shares during the period. 79.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MU shares. Raymond James lifted their price target on shares of Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Mizuho boosted their target price on shares of Micron Technology from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Stifel Nicolaus boosted their target price on shares of Micron Technology from $76.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, December 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Micron Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Micron Technology in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $100.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.95.

Read Our Latest Report on Micron Technology

About Micron Technology

(Get Free Report)

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.

Featured Articles

Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.