Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 7,000 Shares

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 7,000 shares of the 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 completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were 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 shares were 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 shares were 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.
• On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $94.26, for a total transaction of $659,820.00.
• On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $91.54, for a total transaction of $640,780.00.

Micron Technology Trading Down 4.6 %

NASDAQ:MU opened at $106.77 on Friday. 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 firm has a market cap of $118.23 billion, a price-to-earnings ratio of -30.95 and a beta of 1.27. Micron Technology, Inc. has a 52 week low of $58.03 and a 52 week high of $130.54. The firm has a 50-day moving average price of $102.95 and a two-hundred day moving average price of $86.67.

Micron Technology (NASDAQ:MU) last posted 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 firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same quarter last year, the business posted ($2.03) EPS. On average, equities analysts expect that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Institutional Investors Weigh In On Micron Technology

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

Analyst Upgrades and Downgrades

MU has been the topic of a number of research analyst reports. Wedbush upped their price target on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Mizuho increased their price objective on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target 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.