Robert W. Baird Increases Micron Technology (NASDAQ:MU) Price Target to $172.00

Micron Technology (NASDAQ:MU) had its target price upped by equities research analysts at Robert W. Baird from $150.00 to $172.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s target price indicates a potential upside of 21.88% from the stock’s current price.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Barclays lifted their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Wells Fargo & Company lifted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. UBS Group lifted their target price on shares of Micron Technology from $125.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Piper Sandler lifted their target price on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Micron Technology Trading Up 1.5 %

MU opened at $141.12 on Monday. The firm has a market capitalization of $156.27 billion, a price-to-earnings ratio of -40.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s 50 day simple moving average is $126.64 and its two-hundred day simple moving average is $105.26. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,840 shares of company stock worth $37,961,924. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidemark LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $25,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the first quarter worth about $25,000. Pingora Partners LLC purchased a new position in Micron Technology during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new position in Micron Technology during the fourth quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other 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.