Micron Technology, Inc. (NASDAQ:MU) Declares Quarterly Dividend of $0.12

Micron Technology, Inc. (NASDAQ:MU) declared a quarterly dividend on Wednesday, September 25th, Wall Street Journal reports. Shareholders of record on Monday, October 7th will be paid a dividend of 0.115 per share by the semiconductor manufacturer on Wednesday, October 23rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, October 7th.

Micron Technology has a dividend payout ratio of 5.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Micron Technology to earn $8.60 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 5.3%.

Micron Technology Stock Performance

Shares of MU stock opened at $102.25 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $96.66 and a 200-day moving average price of $114.96. Micron Technology has a 52 week low of $63.88 and a 52 week high of $157.54. The firm has a market capitalization of $113.38 billion, a PE ratio of -72.01, a P/E/G ratio of 0.20 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.21) EPS. As a group, equities research analysts expect that Micron Technology will post 0.61 earnings per share for the current year.

Insider Buying and Selling at Micron Technology

In other 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 value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. UBS Group dropped their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Stifel Nicolaus reduced their target price on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, September 19th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, KeyCorp reduced their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.23.

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.