Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 5,210 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 5,210 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total transaction of $632,233.50. Following the transaction, the chief executive officer now owns 379,675 shares in the company, valued at approximately $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The transaction 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 Monday, June 16th, Sanjay Mehrotra sold 2,290 shares of Micron Technology stock. The shares were sold at an average price of $120.31, for a total transaction of $275,509.90.
• On Monday, June 9th, Sanjay Mehrotra sold 3,938 shares of Micron Technology stock. The shares were sold at an average price of $110.88, for a total transaction of $436,645.44.
• 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 Trading Up 1.2%

Shares of NASDAQ:MU opened at $121.82 on Thursday. The company has a market cap of $136.14 billion, a P/E ratio of 29.21 and a beta of 1.28. The stock’s 50-day moving average is $91.01 and its 200-day moving average is $93.07. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $157.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology in the first quarter valued at about $33,000. Curio Wealth LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $34,000. Finally, AllSquare Wealth Management LLC lifted its stake in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. China Renaissance cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th. UBS Group upped their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Finally, Barclays decreased their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.00.

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.