Sanjay Mehrotra Sells 3,562 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 3,562 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.46, for a total value of $393,458.52. Following the transaction, the chief executive officer now owns 391,113 shares of the company’s stock, valued at $43,202,341.98. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, June 9th, Sanjay Mehrotra sold 3,938 shares of Micron Technology stock. The shares were sold at an average price of $110.88, for a total value of $436,645.44.

Micron Technology Trading Up 1.7%

Shares of NASDAQ:MU opened at $116.03 on Thursday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.54. The stock has a market cap of $129.67 billion, a price-to-earnings ratio of 33.44 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $86.24 and a 200-day moving average price of $92.43.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

Several research firms recently weighed in on MU. Mizuho increased their price target on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research note on Friday, March 21st. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. UBS Group raised their price objective on Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Finally, Barclays dropped their price objective on Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MU. E Fund Management Co. Ltd. increased its position in shares of Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Micron Technology by 43.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after buying an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,412,000. Finally, Janus Henderson Group PLC increased its position in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after buying an additional 1,130,680 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.