Micron Technology (NASDAQ:MU) Given New $163.00 Price Target at Robert W. Baird

Micron Technology (NASDAQ:MU) had its price target lifted by stock analysts at Robert W. Baird from $130.00 to $163.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price objective indicates a potential upside of 72.09% from the stock’s current price.

A number of other research firms also recently commented on MU. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Morgan Stanley dropped their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. Finally, Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.63.

Micron Technology Trading Down 8.0 %

Shares of NASDAQ:MU opened at $94.72 on Friday. The company has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company’s 50-day moving average price is $96.82 and its 200 day moving average price is $98.28. Micron Technology has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $0.42 EPS. Micron Technology’s revenue was up 38.2% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology will post 6.08 earnings per share for the current year.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Micron Technology by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. State Street Corp grew its position in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. FMR LLC grew its position in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital World Investors grew its position in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after acquiring an additional 726,282 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Company Profile

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.