Insider Selling: Micron Technology, Inc. (NASDAQ:MU) CEO Sells $275,509.90 in Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 2,290 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the transaction, the chief executive officer now owns 384,885 shares of the company’s stock, valued at $46,305,514.35. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, June 17th, Sanjay Mehrotra sold 5,210 shares of Micron Technology stock. The shares were sold at an average price of $121.35, for a total value of $632,233.50.
• 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 value 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 value of $393,458.52.

Micron Technology Trading Up 1.5%

Shares of MU opened at $123.60 on Friday. The stock has a 50-day moving average price of $93.13 and a 200 day moving average price of $93.40. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $144.07. The company has a market capitalization of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. 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 released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MU shares. Robert W. Baird boosted their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a research report on Friday, March 21st. Mizuho boosted their price target on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, June 5th. Finally, Wedbush boosted their price target on Micron Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $130.80.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. FMR LLC lifted its holdings in Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after buying an additional 12,249,341 shares during the last quarter. Capital World Investors lifted its holdings in Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Micron Technology by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after buying an additional 726,282 shares during the last quarter. Finally, Norges Bank bought a new position in Micron Technology during the 4th quarter worth approximately $1,470,875,000. Institutional investors 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.