Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the transaction, the chief executive officer now owns 743,557 shares in the company, valued at $89,226,840. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Sanjay Mehrotra also recently made the following trade(s):
- On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The stock was sold at an average price of $113.38, for a total transaction of $5,102,100.00.
- On Tuesday, March 19th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $93.08, for a total transaction of $651,560.00.
- On Tuesday, March 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $95.64, for a total transaction of $669,480.00.
- On Friday, March 8th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $100.00, for a total transaction of $4,500,000.00.
- On Tuesday, March 5th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $94.26, for a total transaction of $659,820.00.
- On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $91.54, for a total transaction of $640,780.00.
- On Wednesday, February 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $80.44, for a total transaction of $563,080.00.
- On Tuesday, February 13th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00.
- On Tuesday, February 6th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $84.84, for a total transaction of $593,880.00.
- On Tuesday, January 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $87.02, for a total transaction of $609,140.00.
Micron Technology Stock Up 0.4 %
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MU opened at $119.25 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology, Inc. has a 1 year low of $56.01 and a 1 year high of $122.46. The stock's 50 day simple moving average is $90.63 and its 200-day simple moving average is $80.38.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same period in the prior year, the business posted ($2.03) earnings per share. The business's revenue was up 57.7% compared to the same quarter last year. On average, analysts expect that Micron Technology, Inc. will post 0.01 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is presently -13.33%.
Hedge Funds Weigh In On Micron Technology
Several large investors have recently made changes to their positions in MU. Fortis Capital Advisors LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $25,000. Tidemark LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $26,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology in the third quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the third quarter worth about $28,000. Institutional investors and hedge funds own 80.84% of the company's stock.
Analyst Ratings Changes
MU has been the subject of several recent research reports. UBS Group increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 21st. Citigroup raised their price objective on Micron Technology from $95.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. JPMorgan Chase & Co. raised their target price on Micron Technology from $105.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Finally, BMO Capital Markets lifted their price objective on shares of Micron Technology from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $118.69.
Read Our Latest Report on MU
Micron Technology Company Profile
(
Get Free Report)
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.
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