Micron CEO Sells More Stock Under Trading Plan As Memory Downturn Deepens

• Micron disclosed that CEO Sanjay Mehrotra sold over 40,000 shares on July 24 for about $37.3 million.
• Mehrotra has been consistently selling Micron stock in the last few months.
• MU stock is down 34% from its peak from late last month.

Micron CEO Sanjay Mehrotra sold $37.3 million worth of Micron shares last week, according to exchange filings on Tuesday. Micron stock hit its peak on June 25 and has declined about 34% since then amid a broad sell-off in high-flying memory chip stocks this month. The stock declined for three consecutive sessions to a two-month low on Tuesday.

In regulatory filings, Micron disclosed that Mehrotra sold over 40,000 shares on July 24 in total transaction sizes of $29 million and $8.3 million.

Mehrotra has not reported any open-market stock purchases in the last six months. Instead, he has been a consistent seller under pre-arranged Rule 10b5-1 trading plans. His largest disclosed transactions came in late June, when he sold 28,506 shares through multiple trades, followed by additional sales in July. 

Across July alone, Micron insiders recorded roughly $44.2 million of stock sales, with Mehrotra accounting for the bulk of the activity.

Among other notable insider trades, board member Mark Liu, the former TSMC chairman, made a rare open-market purchase of about 23,200 Micron shares worth roughly $7.8 million in January, a move that attracted attention because it came while the stock was trading near record highs and was widely viewed as a strong vote of confidence. 

On the selling side, Global Operations EVP Manish Bhatia sold 26,623 shares worth more than $10.4 million in January after equity awards vested, while CFO Mark Murphy adopted a Rule 10b5-1 plan in 2025 to sell up to 162,000 shares through April 2026, with sales now beginning to execute under that plan.

SK Hynix’s Results Trigger Memory Rout

On Tuesday, SK Hynix reported second-quarter results that missed expectations and triggered a broad selloff in U.S. memory stocks in overnight trading. Micron dipped nearly 7%, while SanDisk and Western Digital slipped 8% and 4.6% respectively.

The South Korean chipmaker posted record numbers – second-quarter revenue rose 257% year-over-year and 51% sequentially to 79.32 trillion won ($64.64 billion) and operating profit surged 557% to 60.54 trillion won – but they fell short of analysts’ targets

US Tech Stock Rotation

The U.S. market is going through a significant rotation in July. Investors are selling off chip and chip-adjacent stocks that ran sharply in the past year and putting the money back in Big Tech and software companies.

The pullback comes despite a strong start to the tech earnings season, raising questions about whether the AI-driven euphoria in parts of the technology sector is beginning to fade and whether a broader downturn may be taking hold.

More recently, China’s advances in AI and semiconductors have come to weigh on trading in the U.S. Moonshot AI’s Kimi K3, which combines near-frontier AI performance with low costs, has gained remarkable recognition since its launch on July 16, while China's largest memory chip firm ChangXin Memory Technologies made a resounding debut on the Shanghai Stock Exchange this week.

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