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

Micron Technology, Inc. (NASDAQ:MU) declared a quarterly dividend on Friday, March 21st, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid 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 0.49%. The ex-dividend date of this dividend is Monday, March 31st.

Micron Technology has raised its dividend by an average of 32.0% annually over the last three years. Micron Technology has a dividend payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

MU stock opened at $94.72 on Friday. Micron Technology has a one year low of $83.54 and a one year high of $157.54. The firm has a 50-day moving average of $96.82 and a two-hundred day moving average of $98.28. The firm has a market capitalization of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue was up 38.2% on a year-over-year basis. On average, analysts forecast that Micron Technology will post 6.08 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on MU. Barclays increased their price objective on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday. UBS Group boosted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Wells Fargo & Company cut their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group dropped 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.63.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

A hedge fund recently raised its stake in Micron Technology stock. Brighton Jones LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,318 shares of the semiconductor manufacturer’s stock after acquiring 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. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.