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

Posted by MarketBeat News on Jun 24th, 2024

Micron Technology, Inc. (NASDAQ:MU – Get Free Report) CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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 transaction 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 transaction of $882,980.00.
On Wednesday, May 29th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $132.14, for a total transaction of $924,980.00.
On Tuesday, May 21st, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $127.66, for a total transaction of $893,620.00.
On Tuesday, May 14th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were sold at an average price of $122.89, for a total transaction of $860,230.00.
On Tuesday, May 7th, Sanjay Mehrotra sold 7,000 shares of Micron Technology stock. The shares were 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 shares were sold at an average price of $111.93, for a total transaction of $783,510.00.
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 transaction 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 transaction of $858,200.00.

Micron Technology Price Performance

Shares of MU stock opened at $139.54 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm’s 50-day moving average is $125.90 and its two-hundred day moving average is $104.34. Micron Technology, Inc. has a 12 month low of $60.50 and a 12 month high of $157.54. The company has a market capitalization of $154.52 billion, a PE ratio of -40.45 and a beta of 1.21.

Institutional Investors Weigh In On Micron Technology

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A number of institutional investors and hedge funds have recently made changes to their positions in MU. Atria Investments Inc grew its holdings in shares of Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Retirement Group LLC grew its holdings in shares of Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. AIA Group Ltd grew its holdings in shares of Micron Technology by 2.1% in the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $568,000 after purchasing an additional 101 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 104 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on MU. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Needham & Company LLC increased their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Mizuho increased their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company increased their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.20.

Check Out Our Latest Stock 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.