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

Micron Technology, Inc. (NASDAQ:MU) announced a quarterly dividend on Wednesday, December 18th,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 0.52%. The ex-dividend date of this dividend is Monday, December 30th.

Micron Technology has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.3 %

Shares of MU stock opened at $88.63 on Friday. Micron Technology has a 52-week low of $79.15 and a 52-week high of $157.54. The stock has a market cap of $98.75 billion, a price-to-earnings ratio of 130.34 and a beta of 1.16. The firm’s 50-day moving average is $101.17 and its 200-day moving average is $107.22. 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 released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.95) earnings per share. Sell-side analysts predict that Micron Technology will post 8.31 EPS for the current year.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group decreased their price target on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Robert W. Baird dropped their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Mizuho cut their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.24.

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.