Micron Technology CVP Scott Allen sells $879,000 in common stock

Scott R. Allen, Corporate Vice President and Chief Accounting Officer at Micron Technology Inc. (), sold 879 shares of the company’s common stock on July 23, 2026. The transaction totaled $879,000, with shares sold at a price of $1,000 per share. The sale comes as Micron’s stock trades at $900.20, with the company boasting a market capitalization of $1.04 trillion and an impressive 710% return over the past year. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.

Following this transaction, Mr. Allen directly holds 34,958 shares of Micron Technology common stock. The sale was reported in a Form 4 filing with the U.S. Securities and Exchange Commission. For deeper insights into Micron’s financial health and growth prospects, InvestingPro offers a comprehensive Pro Research Report covering this and 1,400+ other US equities, transforming complex data into actionable intelligence.

In other recent news, Samsung Electronics reported a significant rise in its second-quarter high-bandwidth memory (HBM) revenue, surpassing expectations. According to Bernstein, export data from South Chungcheong Province indicates that Samsung’s HBM revenue increased by 89% quarter-over-quarter, reaching $6.7 billion. Meanwhile, Micron Technology has been in the spotlight with UBS raising its price target for the company, citing a strong outlook for free cash flow generation. UBS projects that Micron could generate over $400 billion in free cash flow through 2028, potentially allowing for significant share repurchases once current restrictions lift in December 2026.

Additionally, KeyBanc reiterated an Overweight rating on Micron, maintaining a $1,750 price target. The firm anticipates continued strong performance due to memory shortages and pricing increases, with DRAM and NAND prices expected to rise significantly in the coming quarters. In another development, Micron announced the completion of strategic agreements with several automotive partners, including Qualcomm and Hyundai Mobis, to supply technologies for infotainment and driver assistance systems. These partnerships highlight Micron’s expanding role in the automotive sector.