Micron Technology, Inc. (NASDAQ:MU) Declares Quarterly Dividend of $0.15

Micron Technology, Inc. (NASDAQ:MU) declared a quarterly dividend on Wednesday, March 18th. Investors of record on Monday, March 30th will be given a dividend of 0.15 per share by the semiconductor manufacturer on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Monday, March 30th. This is a 30.4% increase from Micron Technology’s previous quarterly dividend of $0.12.

Micron Technology has a dividend payout ratio of 4.2% 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 Performance

Micron Technology stock opened at $461.73 on Thursday. The firm has a fifty day simple moving average of $398.74 and a two-hundred day simple moving average of $279.79. The company has a quick ratio of 1.78, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. Micron Technology has a twelve month low of $61.54 and a twelve month high of $471.34. The company has a market capitalization of $519.68 billion, a PE ratio of 43.89 and a beta of 1.50.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.50 by $3.70. Micron Technology had a return on equity of 22.71% and a net margin of 28.15%.The firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $18.90 billion. During the same period last year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was up 196.3% compared to the same quarter last year. Research analysts expect that Micron Technology will post 6.08 EPS for the current year.

Insider Activity

In related news, EVP Sumit Sadana sold 25,000 shares of Micron Technology stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $429.89, for a total value of $10,747,250.00. Following the sale, the executive vice president owned 248,021 shares in the company, valued at $106,621,747.69. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Gomo sold 5,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $263.63, for a total transaction of $1,318,150.00. Following the transaction, the director directly owned 19,139 shares in the company, valued at approximately $5,045,614.57. The trade was a 20.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders bought 23,200 shares of company stock valued at $7,821,723 and sold 73,623 shares valued at $27,307,408. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently modified their holdings of MU. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the third quarter valued at about $25,000. High Note Wealth LLC lifted its holdings in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 34 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in Micron Technology during the 3rd quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its holdings in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares during the period. Finally, Steigerwald Gordon & Koch Inc. raised its position in shares of Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.