Micron Technology (NASDAQ:MU) Price Target Raised to $163.00 at Robert W. Baird

Micron Technology (NASDAQ:MU) had its price target upped by equities research analysts at Robert W. Baird from $130.00 to $163.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 58.25% from the company’s current price.

MU has been the subject of a number of other research reports. TD Cowen lowered their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a research report on Monday. Sanford C. Bernstein cut their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley cut their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Mizuho decreased their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.32.

Micron Technology Stock Up 0.9 %

MU stock opened at $103.00 on Friday. The firm has a 50-day moving average price of $96.92 and a 200-day moving average price of $98.22. Micron Technology has a 12 month low of $83.54 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $114.76 billion, a P/E ratio of 29.68 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. As a group, equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares in the last quarter. True Wealth Design LLC raised its position 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 valued at $33,000 after buying an additional 296 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter valued at $33,000. Finally, Stone House Investment Management LLC lifted its stake in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. 80.84% of the stock is owned by 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.