Micron Technology CEO Sanjay Mehrotra sold $37 million in shares on July 24, 2026, disposing of 40,000 shares at prices ranging from approximately $906 to $966 across 40 separate transactions. The timing of the sale preceded a bullish demand announcement by roughly one month. The stock subsequently continued climbing, closing at $974.33 on August 20, meaning the executive left potential gains on the table if the transaction was discretionary.
On the company’s fiscal Q3 earnings call, Mehrotra announced that customers have placed $22 billion in cash deposits on take-or-pay contracts, with demand still exceeding Micron’s committed supply capacity by 50%. CFO Mark Murphy provided additional context, clarifying that approximately $18 billion represents cash deposits with the remainder in letters of credit, and that roughly $10 billion of deposits are projected to arrive in fiscal Q4. The executive framed these as binding commitments distinct from prepayments, noting that 14 of 16 signed agreements represent approximately $100 billion in cumulative minimum revenue at fixed floor prices over their terms.
Micron reported fiscal Q3 revenue of $41.46 billion, representing a 17.60% beat versus expectations and 345.72% year-over-year growth, with non-GAAP earnings per share of $25.11. The company guided for fourth-quarter revenue of $50.0 billion and EPS of $31.00. Shares have appreciated 241.59% year to date and 732.62% over the prior year period.
Two other named executives also sold shares during the July window. Chief Accounting Officer Scott Allen sold 879 shares on July 23 at $1,000.00 and additional lots on July 15. Chief People Officer April Arnzen sold across 18 transactions between July 1 at prices ranging from $1,077.05 to $1,095.88. The article notes that available filings do not themselves confirm whether the CEO’s transaction was executed under a Rule 10b5-1 trading plan, which would indicate predetermined trading separate from current market assessments.
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