Robert W. Baird Trims Micron Technology (NASDAQ:MU) Target Price to $150.00

Micron Technology (NASDAQ:MU) had its price target reduced by Robert W. Baird from $172.00 to $150.00 in a report issued on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other brokerages also recently issued reports on MU. The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a buy rating in a research note on Thursday, June 27th. Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a research report on Tuesday, September 17th. KeyCorp reduced their price objective on shares of Micron Technology from $165.00 to $145.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reissued a buy rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their price objective on Micron Technology from $100.00 to $114.00 and gave the company an equal weight rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $144.38.

Micron Technology Stock Down 3.5 %

Shares of MU stock opened at $103.71 on Friday. The stock has a market cap of $115.00 billion, a P/E ratio of -73.04, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The stock has a fifty day moving average price of $97.40 and a 200 day moving average price of $115.05. Micron Technology has a one year low of $63.88 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.21) earnings per share. Analysts predict that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s 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 completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Capital International Investors lifted its position in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Swedbank AB grew its stake in shares of Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after purchasing an additional 2,187,460 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after buying an additional 1,809,000 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Micron Technology by 28.9% in the 1st quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock valued at $892,023,000 after acquiring an additional 1,695,876 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.