Micron Technology (NASDAQ:MU) Raised to Outperform 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 note released on Monday, Marketbeat reports. The brokerage currently has $150.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $115.00.

A number of other research firms have also commented on MU. JPMorgan Chase & Co. lifted their price objective on Micron Technology from $105.00 to $130.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Needham & Company LLC increased their price objective on Micron Technology from $100.00 to $120.00 and gave the company a buy rating in a research report on Thursday, March 21st. TD Cowen boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday, March 21st. Cantor Fitzgerald increased their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Rosenblatt Securities restated a buy rating and set a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $123.60.

Micron Technology Stock Up 0.1 %

MU opened at $119.32 on Monday. The company has a market capitalization of $131.73 billion, a PE ratio of -34.59 and a beta of 1.27. The business has a 50-day moving average of $110.11 and a 200-day moving average of $90.70. Micron Technology has a fifty-two week low of $59.55 and a fifty-two week high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. Insiders sold a total of 370,207 shares of company stock valued at $41,839,707 over the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently made changes to their positions in MU. Tidemark LLC bought a new stake in Micron Technology in the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology in the first quarter worth $25,000. Pingora Partners LLC acquired a new position in Micron Technology during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in Micron Technology in the third quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter valued at $28,000. 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.