Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 45,000 Shares

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total value of $5,400,000.00. Following the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $89,226,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 shares were 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 shares were 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.
• On Wednesday, February 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $80.44, for a total value of $563,080.00.
• On Tuesday, February 13th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $82.03, for a total value of $574,210.00.
• On Tuesday, February 6th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $84.84, for a total value of $593,880.00.
• On Tuesday, January 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $87.02, for a total value of $609,140.00.

Micron Technology Price Performance

Shares of MU opened at $119.25 on Thursday. 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 50-day moving average of $90.63 and a 200-day moving average of $80.38. Micron Technology, Inc. has a one year low of $56.01 and a one year high of $122.46.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business earned ($2.03) EPS. The business’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 0.01 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be given a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several research firms have issued reports on MU. JPMorgan Chase & Co. upped their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Needham & Company LLC increased their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. BMO Capital Markets increased their target price on Micron Technology from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. The Goldman Sachs Group increased their target price on Micron Technology from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Bank of America increased their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.69.

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.