Micron Technology (NASDAQ:MU) Trading Down 0.1% on Insider Selling

Micron Technology, Inc. (NASDAQ:MU) was down 0.1% during trading on Tuesday following insider selling activity. The stock traded as low as $137.75 and last traded at $138.94. Approximately 10,282,166 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 19,734,020 shares. The stock had previously closed at $139.01.

Specifically, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on Tuesday, June 18th. The stock was 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 approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the sale, the senior vice president now owns 138,387 shares in the company, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,840 shares of company stock worth $37,961,924. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MU shares. Citigroup increased their price target on Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday. KeyCorp increased their price target on Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus increased their target price on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Barclays increased their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, UBS Group increased their target price on Micron Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $153.00.

Micron Technology Stock Performance

The business has a 50-day moving average of $126.64 and a two-hundred day moving average of $105.26. The company has a market cap of $156.27 billion, a P/E ratio of -40.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors boosted its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Sanders Capital LLC boosted its holdings in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors boosted its holdings in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

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.