Micron Technology (NASDAQ:MU) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Micron Technology (NASDAQ:MU) from a neutral rating to an outperform rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $150.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $115.00.

Several other brokerages also recently commented on MU. TD Cowen increased their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an outperform rating in a research note on Thursday, March 21st. Rosenblatt Securities reaffirmed a buy rating and issued a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Mizuho raised their target price on Micron Technology from $105.00 to $124.00 and gave the company a buy rating in a research report on Thursday, March 21st. Needham & Company LLC boosted their price target on shares of Micron Technology from $100.00 to $120.00 and gave the stock a buy rating in a report on Thursday, March 21st. Finally, Barclays raised their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an overweight rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $123.60.

Micron Technology Trading Down 1.3 %

MU opened at $117.81 on Monday. The company has a fifty day moving average price of $110.70 and a two-hundred day moving average price of $90.90. Micron Technology has a 1-year low of $59.79 and a 1-year high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a market cap of $130.06 billion, a P/E ratio of -34.15 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) earnings per share. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. Analysts predict that Micron Technology will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $120.32, for a total transaction of $842,240.00. Following the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $86,515,975.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $120.32, for a total value of $842,240.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $86,515,975.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 377,207 shares of company stock valued at $42,681,947. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MU. Revolve Wealth Partners LLC boosted 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 worth $776,000 after purchasing an additional 98 shares during the period. Retirement Group LLC boosted its holdings in shares of Micron Technology by 37.3% in the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after purchasing an additional 100 shares during the period. AIA Group Ltd boosted its holdings in shares of Micron Technology by 2.1% in the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after purchasing an additional 101 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of Micron Technology by 5.2% in the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 104 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its holdings in shares of Micron Technology by 3.1% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock worth $493,000 after purchasing an additional 124 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.