Robert W. Baird Trims Micron Technology (NASDAQ:MU) Target Price to $150.00

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

Several other brokerages have also commented on MU. Mizuho raised their price objective on Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research report on Friday, May 31st. Wolfe Research boosted their price target on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a report on Friday, June 21st. Bank of America upped their price objective on Micron Technology from $110.00 to $125.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Micron Technology from $130.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Finally, Stifel Nicolaus dropped their price target on Micron Technology from $165.00 to $135.00 and set a buy rating on the stock in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $144.38.

Micron Technology Trading Down 2.2 %

Shares of MU opened at $107.50 on Friday. The business’s 50-day moving average price is $97.63 and its 200-day moving average price is $114.96. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The stock has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. 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 (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the business earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Hedge Funds Weigh In On Micron Technology

Several institutional investors and hedge funds have recently made changes to their positions in MU. Steward Partners Investment Advisory LLC lifted its position in Micron Technology by 146.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 33,622 shares of the semiconductor manufacturer’s stock worth $2,869,000 after buying an additional 19,992 shares in the last quarter. TD Asset Management Inc lifted its position in Micron Technology by 8.2% during the 4th quarter. TD Asset Management Inc now owns 528,059 shares of the semiconductor manufacturer’s stock worth $45,065,000 after buying an additional 40,126 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in Micron Technology during the 4th quarter worth about $362,000. J. W. Coons Advisors LLC bought a new stake in Micron Technology during the 4th quarter worth about $213,000. Finally, Avestar Capital LLC lifted its position in Micron Technology by 32.4% during the 4th quarter. Avestar Capital LLC now owns 4,145 shares of the semiconductor manufacturer’s stock worth $354,000 after buying an additional 1,014 shares in the last quarter. Institutional investors and hedge funds 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.