Robert W. Baird Lowers Micron Technology (NASDAQ:MU) Price Target to $28.00

Micron Technology (NASDAQ:MU) had its price target trimmed by Robert W. Baird from $32.00 to $28.00 in a research report report published on Friday morning, Briefing.com Automated Import reports. The brokerage currently has an underperform rating on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued research reports about the company. Summit Redstone raised Micron Technology to a buy rating in a research report on Thursday, March 21st. MKM Partners increased their price target on Micron Technology to $50.00 and gave the company a buy rating in a report on Thursday, March 21st. Summit Insights raised Micron Technology from a hold rating to a buy rating in a report on Thursday, March 21st. Mizuho reissued a buy rating and issued a $47.00 price target (up previously from $44.00) on shares of Micron Technology in a report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a buy rating and issued a $75.00 price target on shares of Micron Technology in a report on Tuesday, March 19th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $47.88.

Shares of NASDAQ MU opened at $33.19 on Friday. Micron Technology has a 1-year low of $28.39 and a 1-year high of $58.15. The stock has a 50-day moving average of $34.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. The stock has a market capitalization of $36.80 billion, a P/E ratio of 2.81 and a beta of 1.94.

In other Micron Technology news, SVP April S. Arnzen sold 21,182 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at approximately $3,426,614.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Joel L. Poppen sold 20,210 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.45, for a total value of $837,704.50. Following the transaction, the senior vice president now directly owns 269,368 shares in the company, valued at approximately $11,165,303.60. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MU. Executive Wealth Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Athena Capital Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $29,000. Valeo Financial Advisors LLC raised its position in shares of Micron Technology by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 300 shares during the period. Gemmer Asset Management LLC raised its position in shares of Micron Technology by 49.9% during the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 235 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 255 shares during the period. 77.03% of the stock is currently owned by institutional investors.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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