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

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

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 transaction of $2,238,035.60.
• On Thursday, September 18th, Sanjay Mehrotra sold 1,202 shares of Micron Technology stock. The stock was sold at an average price of $170.18, for a total transaction of $204,556.36.
• On Tuesday, September 16th, Sanjay Mehrotra sold 7,319 shares of Micron Technology stock. The stock was sold at an average price of $158.29, for a total transaction 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 transaction 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 transaction 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 transaction of $981,225.00.

Micron Technology Stock Up 2.2%

Shares of NASDAQ MU opened at $187.83 on Friday. The company has a 50 day simple moving average of $134.89 and a 200-day simple moving average of $110.70. The company has a market capitalization of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $191.85.

Micron Technology Dividend Announcement

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

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. boosted its position in Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 153 shares during the period. Howard Hughes Medical Institute purchased a new position in Micron Technology in the 2nd quarter valued at approximately $30,000. AlphaQuest LLC boosted its position in Micron Technology by 13,250.0% in the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 265 shares during the period. WealthCollab LLC boosted its position in Micron Technology by 4,500.0% in the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 270 shares during the period. Finally, Hilltop National Bank purchased a new position in Micron Technology in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MU shares. Summit Insights upgraded shares of Micron Technology to a “strong-buy” rating in a report on Tuesday, September 23rd. TD Cowen raised their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Robert W. Baird increased their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Mizuho increased their price objective on shares of Micron Technology from $182.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, KGI Securities raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.77.

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.