Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective increased by analysts at Robert W. Baird from $163.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the semiconductor manufacturer's stock. Robert W. Baird's price target points to a potential upside of 58.25% from the company's current price.

Several other research analysts have also commented on MU. Morgan Stanley increased their price target on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday. Needham & Company LLC increased their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America boosted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Susquehanna boosted their target price on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $0.39 during trading on Friday, reaching $126.39. The company had a trading volume of 7,812,706 shares, compared to its average volume of 23,283,855. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $137.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The stock's fifty day moving average price is $97.59 and its 200 day moving average price is $94.05. The firm has a market capitalization of $141.25 billion, a price-to-earnings ratio of 22.77 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities research analysts predict that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 2,290 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the sale, the chief executive officer now owns 384,885 shares of the company's stock, valued at approximately $46,305,514.35. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,404 shares of company stock worth $8,509,167 in the last ninety days. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Micron Technology in the first quarter worth approximately $3,922,000. Voya Investment Management LLC raised its stake in shares of Micron Technology by 21.6% in the first quarter. Voya Investment Management LLC now owns 2,956,411 shares of the semiconductor manufacturer's stock valued at $256,701,000 after buying an additional 525,596 shares during the period. Strs Ohio bought a new stake in Micron Technology in the 1st quarter valued at about $57,628,000. SWS Partners lifted its holdings in Micron Technology by 2.5% during the first quarter. SWS Partners now owns 21,529 shares of the semiconductor manufacturer's stock valued at $1,871,000 after purchasing an additional 531 shares during the last quarter. Finally, Westbourne Investments Inc. boosted its position in Micron Technology by 555.9% during the first quarter. Westbourne Investments Inc. now owns 17,590 shares of the semiconductor manufacturer's stock worth $1,528,000 after purchasing an additional 14,908 shares during the period. 80.84% of the stock is owned by institutional investors.

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.

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