Micron Technology said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.46 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on April 25, 2023.
At the current share price of $63.54 / share, the stock's dividend yield is 0.72%. Looking back five years and taking a sample every week, the average dividend yield has been 0.84%, the lowest has been 0.42%, and the highest has been 1.59%. The standard deviation of yields is 0.25 (n=237).
The current dividend yield is 0.47 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 4.40% Upside
As of March 30, 2023, the average one-year price target for Micron Technology is $66.34. The forecasts range from a low of $45.45 to a high of $105.00. The average price target represents an increase of 4.40% from its latest reported closing price of $63.54.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Micron Technology is $18,788MM, a decrease of 18.54%. The projected annual non-GAAP EPS is $0.19.
What is the Fund Sentiment?
There are 2230 funds or institutions reporting positions in Micron Technology. This is a decrease of 51 owner(s) or 2.24% in the last quarter. Average portfolio weight of all funds dedicated to MU is 0.42%, a decrease of 11.46%. Total shares owned by institutions increased in the last three months by 2.64% to 1,046,641K shares. The put/call ratio of MU is 1.51, indicating a bearish outlook.
What are Large Shareholders Doing?
Capital Research Global Investors holds 64,750K shares representing 5.93% ownership of the company. In it's prior filing, the firm reported owning 47,470K shares, representing an increase of 26.69%. The firm increased its portfolio allocation in MU by 25.17% over the last quarter.
Sanders Capital holds 41,038K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 42,131K shares, representing a decrease of 2.66%. The firm decreased its portfolio allocation in MU by 99.91% over the last quarter.
Primecap Management holds 39,740K shares representing 3.64% ownership of the company. In it's prior filing, the firm reported owning 40,434K shares, representing a decrease of 1.75%. The firm decreased its portfolio allocation in MU by 99.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 33,045K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 32,904K shares, representing an increase of 0.42%. The firm decreased its portfolio allocation in MU by 7.48% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 25,132K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 25,007K shares, representing an increase of 0.50%. The firm decreased its portfolio allocation in MU by 7.64% over the last quarter.
Micron Technology Background Information
(This description is provided by the company.)
It is an industry leader in innovative memory and storage solutions. Through its global brands - Micron® and Crucial® - its broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint™ memory, and NOR, is transforming how the world uses information to enrich life for all. Backed by more than 40 years of technology leadership, its memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning, and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking.
This story originally appeared on Fintel.
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