Micron Technology, Inc. (MU) To Go Ex-Dividend on March 31st

Micron Technology, Inc. (NASDAQ:MU) declared a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.115 per share by the semiconductor manufacturer on Tuesday, April 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st.

Micron Technology has increased its dividend payment by an average of 32.0% per year over the last three years. Micron Technology has a payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Micron Technology to earn $10.67 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 4.3%.

Micron Technology Stock Down 3.0 %

Micron Technology stock opened at $88.44 on Friday. The firm has a market cap of $98.84 billion, a price-to-earnings ratio of 25.49 and a beta of 1.23. Micron Technology has a 52-week low of $83.54 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a 50 day moving average price of $96.00 and a two-hundred day moving average price of $98.37.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities analysts predict that Micron Technology will post 6.08 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley increased their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

An institutional investor recently raised its position in Micron Technology stock. Brighton Jones LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 18.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,318 shares of the semiconductor manufacturer’s stock after purchasing an additional 976 shares during the quarter. Brighton Jones LLC’s holdings in Micron Technology were worth $532,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.