Sanjay Mehrotra Sells 45,000 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares in the company, valued at approximately $89,226,840. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $113.38, for a total transaction 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 transaction 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 transaction of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $100.00, for a total transaction of $4,500,000.00.
• On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $94.26, for a total transaction 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 transaction of $640,780.00.
• On Wednesday, February 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00.
• On Tuesday, February 13th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00.
• On Tuesday, February 6th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00.
• 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.

Micron Technology Stock Down 1.1 %

MU stock opened at $117.89 on Friday. The business has a 50-day simple moving average of $91.35 and a 200 day simple moving average of $80.65. Micron Technology, Inc. has a 52 week low of $56.01 and a 52 week high of $122.46. The company has a market cap of $130.55 billion, a PE ratio of -34.17 and a beta of 1.24. 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 (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion for 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 was up 57.7% on a year-over-year basis. During the same period in the prior year, the business posted ($2.03) earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.01 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be paid a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in Micron Technology by 0.7% in the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after purchasing an additional 80,345 shares during the period. L2 Asset Management LLC raised its holdings in shares of Micron Technology by 492.3% in the 3rd quarter. L2 Asset Management LLC now owns 26,444 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after acquiring an additional 21,979 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Micron Technology by 11.8% in the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock valued at $599,203,000 after acquiring an additional 927,302 shares in the last quarter. Merlin Capital Inc purchased a new stake in shares of Micron Technology in the 3rd quarter valued at about $407,000. Finally, Amitell Capital Pte Ltd raised its holdings in shares of Micron Technology by 97.9% in the 3rd quarter. Amitell Capital Pte Ltd now owns 95,210 shares of the semiconductor manufacturer’s stock valued at $6,477,000 after acquiring an additional 47,105 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price target on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Robert W. Baird increased their price target on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Needham & Company LLC raised their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

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.