Robert W. Baird Has Lowered Expectations for Micron Technology (NASDAQ:MU) Stock Price

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

A number of other research firms have also recently commented on MU. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Cowen increased their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Citigroup decreased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.67.

Micron Technology Stock Down 4.3 %

Shares of MU opened at $103.90 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $103.85 and a 200 day moving average of $109.09. The company has a market cap of $115.75 billion, a PE ratio of 152.80 and a beta of 1.16. Micron Technology has a 52-week low of $78.63 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) EPS. On average, sell-side analysts expect that Micron Technology will post 8.31 EPS for the current year.

Insider Buying and Selling at Micron Technology

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

Institutional Trading of Micron Technology

A number of hedge funds have recently modified their holdings of MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the third quarter valued at $26,000. Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter valued at about $30,000. True Wealth Design LLC raised its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares during the period. DT Investment Partners LLC boosted its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.