Robert W. Baird Cuts Micron Technology (NASDAQ:MU) Price Target to $130.00

Micron Technology (NASDAQ:MU) had its price target dropped by analysts at Robert W. Baird from $150.00 to $130.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price target would suggest a potential upside of 25.12% from the stock’s previous close.

MU has been the topic of several other reports. China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Raymond James raised their target price on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday. Citigroup dropped their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Morgan Stanley boosted their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.67.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $103.90 on Thursday. The stock has a market capitalization of $115.75 billion, a P/E ratio of 152.80 and a beta of 1.16. The business has a 50 day simple moving average of $103.85 and a two-hundred day simple moving average of $109.09. Micron Technology has a 12 month low of $78.63 and a 12 month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.95) EPS. As a group, analysts predict that Micron Technology will post 8.31 EPS for the current fiscal year.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. Primecap Management Co. CA boosted its stake in Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after acquiring an additional 206,499 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after purchasing an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

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.