Micron Technology, Inc. (NASDAQ:MU - Get Free Report) CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company's stock, valued at $80,483,154.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sanjay Mehrotra also recently made the following trade(s):
- On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $120.70, for a total value of $844,900.00.
- 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.
Micron Technology Stock Performance
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NASDAQ MU opened at $111.58 on Friday. The stock's fifty day moving average is $105.24 and its two-hundred day moving average is $87.85. The firm has a market capitalization of $123.56 billion, a P/E ratio of -32.34 and a beta of 1.27. 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 fifty-two week low of $59.34 and a fifty-two week high of $130.54.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.03) earnings per share. On average, research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.
Micron Technology Dividend Announcement
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 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology's dividend payout ratio (DPR) is currently -13.33%.
Hedge Funds Weigh In On Micron Technology
Several large investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at $374,000. MONECO Advisors LLC lifted its stake in shares of Micron Technology by 8.7% in the 1st quarter. MONECO Advisors LLC now owns 4,612 shares of the semiconductor manufacturer's stock valued at $544,000 after purchasing an additional 371 shares during the last quarter. Petredis Investment Advisors LLC lifted its stake in shares of Micron Technology by 2.1% in the 1st quarter. Petredis Investment Advisors LLC now owns 38,648 shares of the semiconductor manufacturer's stock valued at $4,556,000 after purchasing an additional 798 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Micron Technology by 7.2% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,695 shares of the semiconductor manufacturer's stock valued at $789,000 after purchasing an additional 447 shares during the last quarter. Finally, Jacobsen Capital Management acquired a new position in shares of Micron Technology in the 1st quarter valued at $262,000. Institutional investors and hedge funds own 80.84% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on MU shares. UBS Group lifted their price target on Micron Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Cantor Fitzgerald lifted their price target on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. 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. KeyCorp lifted their price target on Micron Technology from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, Mizuho lifted their price target on Micron Technology from $105.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $122.20.
Check Out Our Latest Report on Micron Technology
About Micron Technology
(
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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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