Micron Technology (NASDAQ:MU) Given New $150.00 Price Target at Robert W. Baird

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

A number of other equities research analysts also recently commented on the company. Susquehanna decreased their target price on Micron Technology from $175.00 to $165.00 and set a positive rating for the company in a report on Thursday. Cantor Fitzgerald lifted their price target on Micron Technology from $150.00 to $180.00 and gave the company an overweight rating in a research report on Monday, June 17th. Stifel Nicolaus reduced their price target on Micron Technology from $165.00 to $135.00 and set a buy rating for the company in a research report on Thursday, September 19th. BNP Paribas cut Micron Technology from an outperform rating to an underperform rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group lifted their price target on Micron Technology from $138.00 to $158.00 and gave the company a buy rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of Moderate Buy and an average price target of $144.38.

Micron Technology Trading Down 2.2 %

Micron Technology stock opened at $107.50 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology has a 52 week low of $63.83 and a 52 week high of $157.54. The company has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The stock has a 50-day moving average price of $97.77 and a 200 day moving average price of $114.60.

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

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Atria Investments Inc raised its holdings in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares during the period. Aspect Partners LLC raised its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 94 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after buying an additional 98 shares during the period. Finally, LRI Investments LLC raised its holdings in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.