Sanjay Mehrotra Sells 21,563 Shares of Micron Technology (NASDAQ:MU) Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 21,563 shares of Micron Technology stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the sale, the chief executive officer directly owned 272,648 shares of the company’s stock, valued at approximately $51,385,968.56. This trade represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, October 6th, Sanjay Mehrotra sold 10,800 shares of Micron Technology stock. The stock was sold at an average price of $194.44, for a total transaction of $2,099,952.00.
• On Friday, October 3rd, Sanjay Mehrotra sold 5,137 shares of Micron Technology stock. The stock was sold at an average price of $190.51, for a total transaction of $978,649.87.
• On Wednesday, October 1st, Sanjay Mehrotra sold 15,000 shares of Micron Technology stock. The stock was sold at an average price of $180.86, for a total transaction of $2,712,900.00.
• On Friday, September 19th, Sanjay Mehrotra sold 13,798 shares of Micron Technology stock. The stock was 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 Price Performance

Shares of NASDAQ:MU opened at $196.54 on Thursday. The company’s fifty day moving average price is $139.60 and its 200 day moving average price is $112.59. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $201.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The firm has a market capitalization of $220.61 billion, a P/E ratio of 25.89, a P/E/G ratio of 0.41 and a beta of 1.56.

Micron Technology Dividend Announcement

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

Wall Street Analyst Weigh In

MU has been the topic of several research analyst reports. Bank of America lifted their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. UBS Group lifted their price objective on shares of Micron Technology from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. KGI Securities upgraded shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Finally, Mizuho lifted their price objective on shares of Micron Technology from $182.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $190.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Teamwork Financial Advisors LLC increased its stake in shares of Micron Technology by 0.4% during the third quarter. Teamwork Financial Advisors LLC now owns 14,974 shares of the semiconductor manufacturer’s stock worth $2,505,000 after acquiring an additional 53 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in Micron Technology by 5.7% during the third quarter. 1620 Investment Advisors Inc. now owns 1,467 shares of the semiconductor manufacturer’s stock worth $245,000 after buying an additional 79 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in Micron Technology by 1.9% during the second quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer’s stock worth $645,000 after buying an additional 99 shares in the last quarter. SilverOak Wealth Management LLC boosted its holdings in Micron Technology by 3.5% during the second quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer’s stock worth $364,000 after buying an additional 100 shares in the last quarter. Finally, Beta Wealth Group Inc. boosted its holdings in Micron Technology by 1.5% during the second quarter. Beta Wealth Group Inc. now owns 6,805 shares of the semiconductor manufacturer’s stock worth $839,000 after buying an additional 102 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.