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

Micron Technology (NASDAQ:MU) had its target price lowered by Robert W. Baird from $172.00 to $150.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Micron Technology from $165.00 to $135.00 and set a buy rating for the company in a report on Thursday, September 19th. Susquehanna cut their price target on shares of Micron Technology from $175.00 to $165.00 and set a positive rating for the company in a report on Thursday. Wolfe Research upped their price target on shares of Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a report on Friday, June 21st. Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the stock a buy rating in a report on Thursday. Finally, Citigroup cut their price target on shares of Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $144.38.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $107.50 on Friday. The company’s 50 day moving average price is $97.63 and its two-hundred day moving average price is $114.96. Micron Technology has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a market cap of $119.20 billion, a PE ratio of -75.70, a PEG 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 announced its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the business posted ($1.21) EPS. The business’s revenue was up 93.3% compared to the same quarter last year. Equities research analysts predict that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management Inc. acquired a new stake in shares of Micron Technology during the second quarter worth $2,309,000. Centaurus Financial Inc. increased its position in shares of Micron Technology by 13.2% during the second quarter. Centaurus Financial Inc. now owns 13,293 shares of the semiconductor manufacturer’s stock worth $1,748,000 after buying an additional 1,554 shares during the period. SS&H Financial Advisors Inc. increased its position in shares of Micron Technology by 3.2% during the second quarter. SS&H Financial Advisors Inc. now owns 21,265 shares of the semiconductor manufacturer’s stock worth $2,797,000 after buying an additional 650 shares during the period. Heritage Wealth Management Inc. acquired a new stake in shares of Micron Technology during the second quarter worth $445,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Micron Technology during the second quarter worth $5,306,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Company Profile

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.