Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares of the company's stock, valued at approximately $89,321,088.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Sanjay Mehrotra also recently made the following trade(s):
- On Thursday, April 4th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00.
- On Tuesday, April 2nd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.09, for a total value of $854,630.00.
- On Monday, March 25th, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $120.00, for a total transaction of $5,400,000.00.
- 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 shares were 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 stock was sold at an average price of $94.26, for a total value of $659,820.00.
- On Tuesday, February 27th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $91.54, for a total value of $640,780.00.
- On Wednesday, February 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $80.44, for a total transaction of $563,080.00.
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Shares of MU opened at $127.51 on Friday. The stock has a 50 day moving average price of $99.21 and a 200 day moving average price of $84.62. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $141.20 billion, a price-to-earnings ratio of -36.96 and a beta of 1.27.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology's quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.03) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.36%. Micron Technology's payout ratio is -13.33%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MU. Tidemark LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $28,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $27,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently commented on MU shares. Raymond James upped their price objective on shares of Micron Technology from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, January 19th. UBS Group upped their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. BMO Capital Markets lifted their price objective on Micron Technology from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Monday, December 18th. Fox Advisors upgraded Micron Technology from an "equal weight" rating to an "overweight" rating in a research note on Thursday, March 21st. Finally, Citigroup reiterated a "buy" rating and set a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $121.35.
Read Our Latest Analysis on MU
About Micron Technology
(
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.
Further Reading
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