Sanjay Mehrotra Sells 15,000 Shares of Micron Technology (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $180.86, for a total value of $2,712,900.00. Following the sale, the chief executive officer owned 310,148 shares in the company, valued at $56,093,367.28. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 19th, Sanjay Mehrotra sold 13,798 shares of Micron Technology stock. The shares were sold at an average price of $162.20, for a total value of $2,238,035.60.
• On Thursday, September 18th, Sanjay Mehrotra sold 1,202 shares of Micron Technology stock. The shares were sold at an average price of $170.18, for a total value of $204,556.36.
• On Tuesday, September 16th, Sanjay Mehrotra sold 7,319 shares of Micron Technology stock. The shares were sold at an average price of $158.29, for a total value of $1,158,524.51.
• On Monday, September 15th, Sanjay Mehrotra sold 181 shares of Micron Technology stock. The stock was sold at an average price of $160.04, for a total value of $28,967.24.
• On Wednesday, September 10th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $140.58, for a total value of $1,054,350.00.
• On Friday, September 5th, Sanjay Mehrotra sold 7,500 shares of Micron Technology stock. The stock was sold at an average price of $130.83, for a total value of $981,225.00.

Micron Technology Stock Up 2.2%

MU opened at $187.83 on Friday. The company has a market cap of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56. The business’s 50-day moving average price is $134.89 and its 200-day moving average price is $110.76. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $191.85.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a $0.115 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MU. First Command Advisory Services Inc. grew its holdings in shares of Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 153 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter worth approximately $33,000. AlphaQuest LLC grew its holdings in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 265 shares during the period. Finally, WealthCollab LLC grew its holdings in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. Bank of America lifted their price objective on Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Arete Research upgraded Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their price target on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Mizuho boosted their price target on Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Piper Sandler boosted their price target on Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $184.77.

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.