Micron Technology, Inc. (NASDAQ:MU) Shares Set to Pay Quarterly Dividend of $0.15

Micron Technology, Inc. (NASDAQ:MU) declared a quarterly dividend on Wednesday, September 30th. Shareholders of record on Wednesday, October 14th will be given a dividend of $0.15 per share by the semiconductor manufacturer on Thursday, October 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 14th.

Micron Technology has a dividend payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Micron Technology to earn $159.03 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 0.4%.

Micron Technology Trading Up 0.0%

Shares of Micron Technology stock opened at $1,065.11 on Thursday. The stock has a market cap of $1.20 trillion, a P/E ratio of 24.11, a P/E/G ratio of 0.67 and a beta of 2.22. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. Micron Technology has a 12-month low of $165.50 and a 12-month high of $1,255.00. The business’s 50 day moving average is $952.75 and its 200-day moving average is $814.16.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating the consensus estimate of $31.72 by $1.70. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The business had revenue of $54.23 billion during the quarter, compared to analysts’ expectations of $51.33 billion. During the same period last year, the business earned $3.03 earnings per share. The firm’s revenue was up 379.1% on a year-over-year basis. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities research analysts predict that Micron Technology will post 73.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on MU shares. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $550.00 to $1,540.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Rosenblatt Securities boosted their price objective on shares of Micron Technology from $1,500.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Micron Technology in a report on Thursday. Citigroup raised their target price on shares of Micron Technology from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Finally, President Capital lifted their price target on Micron Technology to $1,500.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Forty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $1,375.58.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, three-dimensional XPoint-related technologies, solid-state drives, and high-bandwidth memory products designed for demanding computing applications.

The company serves customers across the data center, artificial intelligence, networking, automotive, industrial, mobile, consumer electronics, and embedded markets.