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 Micron Technology stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $114.87, for a total value of $804,090.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $82,597,158.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $111.93, for a total transaction of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $120.70, for a total transaction 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 transaction of $858,200.00.
• On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was 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 shares were 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 transaction 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 transaction 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 transaction of $4,500,000.00.

Micron Technology Stock Performance

NASDAQ:MU opened at $114.70 on Friday. The company has a market cap of $127.02 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. Micron Technology, Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a fifty day moving average price of $108.38 and a 200-day moving average price of $89.36.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations 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 was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.03) earnings per share. As a group, equities analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on MU shares. Barclays increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Cantor Fitzgerald boosted their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Mizuho upped their price objective on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC bought a new position in shares of Micron Technology in the 4th quarter valued at $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC bought a new position in Micron Technology in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in Micron Technology during the third quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Micron Technology in the third quarter worth about $28,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.