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 note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $150.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $115.00.

Several other analysts have also issued reports on MU. Mizuho lifted their target price on shares of Micron Technology from $105.00 to $124.00 and gave the company a buy rating in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a buy rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. KeyCorp boosted their price objective on Micron Technology from $135.00 to $150.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Wedbush raised their price target on shares of Micron Technology from $103.00 to $130.00 and gave the company an outperform rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of Moderate Buy and an average price target of $123.60.

Micron Technology Trading Down 1.3 %

NASDAQ MU opened at $117.81 on Monday. The stock has a market cap of $130.06 billion, a P/E ratio of -34.15 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology has a 12-month low of $59.79 and a 12-month high of $130.54. The company has a fifty day simple moving average of $110.70 and a two-hundred day simple moving average of $90.90.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.03) earnings per share. On average, analysts forecast that Micron Technology will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction 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 $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold 377,207 shares of company stock valued at $42,681,947 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MU. DecisionPoint Financial LLC purchased a new position in Micron Technology in the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its position in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Tidemark LLC acquired a new stake in Micron Technology in the fourth quarter valued at $25,000. Pingora Partners LLC bought a new position in Micron Technology during the 4th quarter valued at $26,000. Finally, Riverview Trust Co bought a new stake in shares of Micron Technology in the 1st quarter worth about $39,000. 80.84% of the stock is currently owned by hedge funds and other 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.