Robert W. Baird Raises Micron Technology (NASDAQ:MU) Price Target to $115.00

Micron Technology (NASDAQ:MUFree Report) had its target price hoisted by Robert W. Baird from $78.00 to $115.00 in a research report report published on Tuesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company an overweight rating in a research report on Monday, March 18th. The Goldman Sachs Group lifted their price objective on shares of Micron Technology from $85.00 to $97.00 and gave the stock a buy rating in a research report on Thursday, December 21st. KeyCorp reaffirmed an overweight rating on shares of Micron Technology in a research report on Wednesday, January 31st. Morgan Stanley lifted their price objective on shares of Micron Technology from $71.50 to $74.75 and gave the stock an underweight rating in a research report on Thursday, December 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $85.00 to $90.00 and gave the company a buy rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Micron Technology presently has a consensus rating of Moderate Buy and an average target price of $118.69.

Get Our Latest Report on MU

Micron Technology Stock Up 0.3 %

Micron Technology stock opened at $110.21 on Tuesday. Micron Technology has a fifty-two week low of $56.01 and a fifty-two week high of $113.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.53. The firm has a 50 day moving average price of $88.70 and a 200 day moving average price of $79.29. The company has a market capitalization of $121.66 billion, a PE ratio of -31.94 and a beta of 1.24.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.97%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company posted ($2.03) EPS. The firm’s revenue was up 57.7% compared to the same quarter last year. Research analysts expect that Micron Technology will post -1.06 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total transaction of $605,640.00. Following the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at $56,390,188.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total transaction of $605,640.00. Following the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at $56,390,188.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the sale, the executive vice president now directly owns 203,342 shares in the company, valued at approximately $17,739,556.08. The disclosure for this sale can be found here. Insiders have sold a total of 254,228 shares of company stock worth $24,036,891 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Micron Technology

Institutional investors have recently added to or reduced their stakes in the stock. Fortis Capital Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $25,000. Tidemark LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in shares of Micron Technology in the third quarter valued at about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the third quarter valued at about $28,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

About Micron Technology

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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.

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