Micron Technology (MU) shares declined nearly 2% in Wednesday’s pre-market session. Chief Business Officer Sumit Sadana sold $10 million in company stock last week. The regulatory filing reports an average sale price of $421.35 per share.
The stock surged 9.2% on Tuesday, marking its strongest intraday performance in over two months. Shares have climbed approximately 45% across the last 10 trading sessions. Investors are currently booking profits following the executive sale and recent price gains.
Micron distributes its previously announced quarterly dividend of $0.15 per share today. The Motley Fool projects Micron could reach a $1 trillion valuation by 2030. Analysts cite high demand for AI-related memory chips as the primary driver for this growth forecast.