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

Micron Technology (NASDAQ:MU) had its price objective increased by research analysts at Robert W. Baird from $130.00 to $163.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s target price indicates a potential upside of 72.09% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on MU. Piper Sandler lowered their price objective on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Morgan Stanley decreased their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Micron Technology Stock Down 8.0 %

Shares of NASDAQ MU opened at $94.72 on Friday. The company has a 50 day simple moving average of $96.82 and a 200-day simple moving average of $98.28. The company has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology has a 1 year low of $83.54 and a 1 year high of $157.54.

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

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Harmony Asset Management LLC boosted its holdings in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after buying an additional 29,000 shares during the period. E Fund Management Co. Ltd. boosted its holdings in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after buying an additional 8,780 shares during the period. Stablepoint Partners LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at about $569,000. Finally, State Street Corp boosted its holdings in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the period. 80.84% of the stock is currently 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.