Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra Sells 34,284 Shares of Stock

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, June 11th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $134.57, for a total value of $941,990.00.
• On Tuesday, June 4th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $126.14, for a total value of $882,980.00.
• On Wednesday, May 29th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $132.14, for a total value of $924,980.00.
• On Tuesday, May 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $127.66, for a total value of $893,620.00.
• On Tuesday, May 14th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $122.89, for a total value of $860,230.00.
• On Tuesday, May 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $120.32, for a total value of $842,240.00.
• On Tuesday, April 30th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $114.87, for a total value of $804,090.00.
• On Tuesday, April 23rd, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was sold at an average price of $111.93, for a total value of $783,510.00.
• On Tuesday, April 16th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The stock was 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 stock was sold at an average price of $122.60, for a total value of $858,200.00.

Micron Technology Price Performance

Shares of MU opened at $139.01 on Tuesday. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54. The business has a 50-day simple moving average of $126.26 and a two-hundred day simple moving average of $104.80. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $153.94 billion, a PE ratio of -40.29 and a beta of 1.21.

Hedge Funds Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares in the last quarter. Capital World Investors grew its position in shares of Micron Technology by 6.6% in the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after buying an additional 1,400,154 shares during the last quarter. Sanders Capital LLC grew its position in shares of Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after buying an additional 503,923 shares during the last quarter. Capital International Investors grew its position in shares of Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MU. Wolfe Research boosted their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird boosted their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley boosted their price target on Micron Technology from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Mizuho boosted their price target on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.60.

About Micron Technology

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.