Sanjay Mehrotra Sells 3,938 Shares of Micron Technology, Inc. (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 3,938 shares of Micron Technology stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.88, for a total transaction of $436,645.44. Following the completion of the transaction, the chief executive officer now directly owns 387,175 shares in the company, valued at $42,929,964. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 6th, Sanjay Mehrotra sold 3,562 shares of Micron Technology stock. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $116.03 on Thursday. The firm has a market capitalization of $129.67 billion, a P/E ratio of 33.44 and a beta of 1.28. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company’s fifty day moving average is $86.24 and its two-hundred day moving average is $92.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Wednesday, March 26th. Citigroup lifted their target price on shares of Micron Technology from $110.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Wedbush reaffirmed an “underperform” rating on shares of Micron Technology in a report on Monday, April 28th. Morgan Stanley cut their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, Rosenblatt Securities lowered their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, five have assigned 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Norges Bank purchased a new position in Micron Technology in the 4th quarter valued at about $1,470,875,000. Capital World Investors lifted its holdings in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC lifted its holdings in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Capital Research Global Investors lifted its holdings in Micron Technology by 139.7% in the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after purchasing an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.