Micron Technology Inc. will pay a dividend of 10 cents a share, beginning October.
The semiconductor company’s first dividend payout is scheduled for Oct. 18 for shareholders of record as of the close of business on Oct. 1.
“Micron’s remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet,” Chief Executive Sanjay Mehrotra said in a statement. According to Mehrotra, a common stock dividend indicates confidence in Micron's future and a “commitment to creating compelling value for shareholders.”
The company’s most recent quarterly report reveals that it has bought back $4 billion in stock and retired 90 million shares at an average price of $42 per share in a program that began in May 2018.
MU saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on June 06, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 50 instances where the indicator turned negative. In of the 50 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The 10-day RSI Indicator for MU moved out of overbought territory on May 30, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 32 similar instances where the indicator moved out of overbought territory. In of the 32 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MU declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
MU broke above its upper Bollinger Band on May 26, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Momentum Indicator moved above the 0 level on June 06, 2023. You may want to consider a long position or call options on MU as a result. In of 103 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MU advanced for three days, in of 304 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 229 cases where MU Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.553) is normal, around the industry mean (7.004). P/E Ratio (47.619) is within average values for comparable stocks, (54.222). Projected Growth (PEG Ratio) (1.113) is also within normal values, averaging (2.573). Dividend Yield (0.007) settles around the average of (0.024) among similar stocks. P/S Ratio (3.206) is also within normal values, averaging (11.793).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MU’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 63, placing this stock slightly worse than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of advanced semiconductor solutions such as DRAMs, NAND flash memory, CMOS image sensors, other semiconductor components and memory modules
A.I.dvisor indicates that over the last year, MU has been closely correlated with SWKS. These tickers have moved in lockstep 76% of the time. This A.I.-generated data suggests there is a high statistical probability that if MU jumps, then SWKS could also see price increases.