Micron Technology, Inc. (MU) To Go Ex-Dividend on December 30th

Micron Technology, Inc. (NASDAQ:MU) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.115 per share by the semiconductor manufacturer on Wednesday, January 15th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, December 30th.

Micron Technology has a payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Micron Technology to earn $12.58 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 3.7%.

Micron Technology Trading Up 3.5 %

Shares of MU stock opened at $90.12 on Friday. The company has a market cap of $100.40 billion, a P/E ratio of 132.53 and a beta of 1.16. Micron Technology has a fifty-two week low of $79.15 and a fifty-two week high of $157.54. The stock has a 50 day simple moving average of $103.14 and a two-hundred day simple moving average of $108.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 84.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.95) earnings per share. Research analysts forecast that Micron Technology will post 8.31 earnings per share for the current year.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MU shares. Needham & Company LLC cut their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird cut their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday. Sanford C. Bernstein dropped their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group reduced their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.26.

About Micron Technology

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.