Micron Technology, Inc. (NASDAQ:MU) CEO Sells $804,090.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $114.87, for a total transaction of $804,090.00. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $82,597,158.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, April 23rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $111.93, for a total value of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $120.70, for a total value of $844,900.00.
• On Tuesday, April 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.60, for a total value of $858,200.00.
• On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00.
• On Tuesday, April 2nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $120.00, for a total transaction of $5,400,000.00.
• On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were 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 value of $651,560.00.
• On Tuesday, March 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $95.64, for a total value of $669,480.00.
• On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $100.00, for a total value of $4,500,000.00.

Micron Technology Trading Up 2.1 %

Micron Technology stock opened at $114.70 on Friday. Micron Technology, Inc. has a 12 month low of $59.55 and a 12 month high of $130.54. The company has a market capitalization of $127.02 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The business’s fifty day simple moving average is $108.38 and its two-hundred day simple moving average is $89.36. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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 company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.03) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Tidemark LLC bought a new position in shares of Micron Technology in the fourth quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $26,000. Finally, Riverview Trust Co bought a new stake in shares of Micron Technology during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MU shares. Needham & Company LLC raised their price target 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. Raymond James boosted their price target on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Mizuho increased their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Cantor Fitzgerald boosted their target price on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Barclays upped their target price on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.