Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,000 shares of the firm's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Sanjay Mehrotra also recently made the following trade(s):
- On Tuesday, April 9th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.60, for a total value of $858,200.00.
- 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 shares were 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 value of $5,400,000.00.
- On Thursday, March 21st, Sanjay Mehrotra sold 45,000 shares of Micron Technology stock. The shares were sold at an average price of $113.38, for a total value 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 value of $651,560.00.
- On Tuesday, March 12th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $95.64, for a total value 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 value 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 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.
Micron Technology Stock Down 4.5 %
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Shares of NASDAQ:MU opened at $116.33 on Thursday. The stock has a fifty day simple moving average of $101.98 and a two-hundred day simple moving average of $86.22. The stock has a market capitalization of $128.82 billion, a price-to-earnings ratio of -33.72 and a beta of 1.27. Micron Technology, Inc. has a 12-month low of $58.03 and a 12-month high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analysts' expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm's quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.03) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology's payout ratio is -13.33%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of MU. Tidemark LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $25,000. Fortis Capital Advisors LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology in the third quarter worth $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology in the third quarter worth $28,000. Hedge funds and other institutional investors own 80.84% of the company's stock.
Analyst Upgrades and Downgrades
MU has been the topic of several recent research reports. Needham & Company LLC raised their price target on Micron Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Fox Advisors upgraded Micron Technology from an "equal weight" rating to an "overweight" rating in a research report on Thursday, March 21st. Stifel Nicolaus restated a "buy" rating and set a $140.00 price target on shares of Micron Technology in a research report on Friday, April 12th. Wells Fargo & Company raised their price target on Micron Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Finally, StockNews.com upgraded Micron Technology from a "sell" rating to a "hold" rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.20.
Get Our Latest Analysis on Micron Technology
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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