Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells $844,900.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $5,850,000.00.
• On Tuesday, April 2nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.09, for a total value of $854,630.00.
• On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $120.00, for a total value of $5,400,000.00.
• 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 value 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 stock was 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 stock was sold at an average price of $100.00, for a total value 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 value of $659,820.00.
• On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $91.54, for a total value of $640,780.00.

Micron Technology Price Performance

Shares of MU stock opened at $106.77 on Friday. The stock has a 50 day moving average of $102.95 and a two-hundred day moving average of $86.67. 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, Inc. has a 12 month low of $58.03 and a 12 month high of $130.54. The company has a market capitalization of $118.23 billion, a P/E ratio of -30.95 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company earned ($2.03) EPS. The company’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s payout ratio is presently -13.33%.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently modified their holdings of the stock. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $25,000. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter valued at $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the 4th quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in Micron Technology during the 3rd quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the 3rd quarter valued at $28,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MU. Cantor Fitzgerald upped their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Robert W. Baird upped their price target on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Wedbush upped their price target on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Piper Sandler upped their price target on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Morgan Stanley upped their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned 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 an average 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.