Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells $5,220,767.52 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, June 11th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00.
• On Tuesday, June 4th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $126.14, for a total transaction of $882,980.00.
• On Wednesday, May 29th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $132.14, for a total value of $924,980.00.
• On Tuesday, May 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $127.66, for a total transaction of $893,620.00.
• On Tuesday, May 14th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.89, for a total transaction of $860,230.00.
• On Tuesday, May 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $120.32, for a total value of $842,240.00.
• On Tuesday, April 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $114.87, for a total transaction of $804,090.00.
• 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.

Micron Technology Stock Up 0.9 %

Shares of MU stock opened at $142.36 on Thursday. The stock has a market cap of $157.65 billion, a P/E ratio of -41.26 and a beta of 1.21. The company’s fifty day simple moving average is $126.64 and its two-hundred day simple moving average is $105.26. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $60.50 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company earned ($1.57) earnings per share. The firm’s revenue was up 81.5% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MU shares. Susquehanna raised their price target on shares of Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a report on Monday, June 17th. Raymond James boosted their target price on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. KeyCorp raised 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. The Goldman Sachs Group upped their price objective on Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Wedbush raised their target price on Micron Technology from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently bought and sold shares of the business. Keynote Financial Services LLC purchased a new stake in Micron Technology during the first quarter valued at approximately $789,000. EverSource Wealth Advisors LLC lifted its position in Micron Technology by 15.3% in the first quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock worth $507,000 after buying an additional 596 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Micron Technology during the first quarter worth $8,558,000. EULAV Asset Management increased its position in Micron Technology by 12.1% during the first quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Micron Technology in the first quarter valued at $245,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.