Micron Technology, Inc. (NASDAQ:MU) shares gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $100.00 to $75.00. The stock had previously closed at $42.42, but opened at $45.31. Robert W. Baird currently has an outperform rating on the stock. Micron Technology shares last traded at $45.19, with a volume of 1531539 shares traded.

Several other analysts have also recently issued reports on MU. Royal Bank of Canada started coverage on shares of Micron Technology in a research note on Wednesday, May 16th. They set an “outperform” rating and a $80.00 price objective for the company. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Cowen increased their price target on shares of Micron Technology from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, May 22nd. Barclays increased their price target on shares of Micron Technology to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, May 22nd. Finally, KeyCorp increased their price target on shares of Micron Technology from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average price target of $71.30.

In other Micron Technology news, Director Robert E. Switz sold 75,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $53.34, for a total transaction of $4,000,500.00. Following the sale, the director now directly owns 120,257 shares in the company, valued at approximately $6,414,508.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the sale, the senior vice president now owns 126,990 shares in the company, valued at $6,995,879.10. The disclosure for this sale can be found here. Insiders have sold a total of 140,000 shares of company stock valued at $7,604,100 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Micron Technology by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock valued at $710,326,000 after purchasing an additional 40,694 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Micron Technology by 47.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 6,078,300 shares of the semiconductor manufacturer’s stock valued at $316,921,000 after purchasing an additional 1,958,119 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Micron Technology by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock valued at $268,150,000 after purchasing an additional 238,829 shares in the last quarter. Parnassus Investments CA raised its holdings in shares of Micron Technology by 40.0% in the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after purchasing an additional 1,400,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Micron Technology by 7.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock valued at $219,496,000 after purchasing an additional 277,992 shares in the last quarter. Institutional investors own 74.02% of the company’s stock.

The firm has a market cap of $51.79 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.63.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 20th. The semiconductor manufacturer reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.13 by $0.02. Micron Technology had a net margin of 43.35% and a return on equity of 51.12%. The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same period last year, the business earned $1.62 EPS. The company’s revenue was up 40.1% on a year-over-year basis. research analysts forecast that Micron Technology, Inc. will post 11.56 EPS for the current year.

Micron Technology announced that its Board of Directors has approved a stock buyback program on Monday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 16.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Micron Technology Company Profile (NASDAQ:MU)

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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