Micron Technology, Inc. (NASDAQ:MU) CEO Sells $508,620.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $72.66, for a total value of $508,620.00. Following the transaction, the chief executive officer now owns 695,437 shares in the company, valued at approximately $50,530,452.42. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, October 31st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 shares were 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 value 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 value 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 value 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 value 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 value 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 value 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.
• 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 value of $463,820.00.

Micron Technology Trading Up 2.4 %

NASDAQ:MU opened at $75.36 on Friday. The stock has a fifty day moving average price of $69.32 and a two-hundred day moving average price of $67.03. The stock has a market capitalization of $82.75 billion, a price-to-earnings ratio of -14.11 and a beta of 1.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 4.46. Micron Technology, Inc. has a 1 year low of $48.43 and a 1 year high of $76.10.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 27th. The semiconductor manufacturer reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.15) by $0.08. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Micron Technology had a negative return on equity of 11.65% and a negative net margin of 37.53%. Micron Technology’s revenue was down 39.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post -2.52 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Tuesday, October 10th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, October 6th. Micron Technology’s payout ratio is -8.61%.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent research reports. Robert W. Baird raised their target price on Micron Technology from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Morgan Stanley raised their price objective on Micron Technology from $46.00 to $58.50 and gave the stock an “underweight” rating in a research report on Monday, September 25th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Micron Technology in a research report on Tuesday, September 26th. Barclays raised their price objective on Micron Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, September 14th. Finally, Wolfe Research began coverage on 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.75.

Institutional Trading of Micron Technology

Large investors have recently bought and sold shares of the company. 25 LLC acquired a new stake in Micron Technology in the first quarter valued at $25,000. Barrett & Company Inc. acquired a new stake in Micron Technology in the first quarter valued at $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology during the third quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology during the third quarter valued at $28,000. Institutional investors and hedge funds own 79.25% 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.