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 firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $67.54, for a total transaction of $472,780.00. Following the sale, the chief executive officer now owns 695,437 shares of the company’s stock, valued at approximately $46,969,814.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, October 17th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was 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 shares were sold at an average price of $69.54, for a total transaction of $486,780.00.
• On Tuesday, October 3rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 shares were sold at an average price of $68.30, for a total transaction of $478,100.00.
• On Tuesday, September 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 shares were 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 transaction of $490,770.00.
• On Tuesday, August 29th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $66.26, for a total transaction of $463,820.00.
• On Thursday, August 31st, Sanjay Mehrotra sold 30,000 shares of Micron Technology stock. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00.
• On Tuesday, August 22nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $63.93, for a total transaction of $447,510.00.

Micron Technology Trading Up 1.7 %

Shares of Micron Technology stock opened at $65.65 on Friday. Micron Technology, Inc. has a 52-week low of $48.43 and a 52-week high of $74.77. The company has a quick ratio of 2.70, a current ratio of 4.46 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $68.28 and its 200-day simple moving average is $66.32. The firm has a market cap of $72.09 billion, a price-to-earnings ratio of -12.29 and a beta of 1.34.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 27th. The semiconductor manufacturer reported ($1.07) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The business’s revenue was down 39.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post -2.56 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Tuesday, October 10th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.70%. Micron Technology’s dividend payout ratio (DPR) is -8.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aspire Private Capital LLC acquired a new position in Micron Technology during the first quarter worth about $12,068,000,000. 25 LLC acquired a new position in Micron Technology during the first quarter worth about $25,000. Barrett & Company Inc. acquired a new position in Micron Technology during the first quarter worth about $25,000. Coppell Advisory Solutions LLC acquired a new position in Micron Technology during the second quarter worth about $32,000. Finally, Cascade Investment Advisors Inc. acquired a new position in Micron Technology during the first quarter worth about $30,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Mizuho lifted their price objective on shares of Micron Technology from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Citigroup reaffirmed a “buy” rating and set a $85.00 price objective on shares of Micron Technology in a research report on Thursday, September 28th. Morgan Stanley lifted their price objective on shares of Micron Technology from $46.00 to $58.50 and gave the stock an “underweight” rating in a research report on Monday, September 25th. Finally, Wolfe Research initiated coverage on shares of Micron Technology in a research report on Wednesday, July 19th. They set an “outperform” rating and a $80.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $77.75.

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.