Fintel reports that on May 26, 2023, BMO Capital maintained coverage of Micron Technology (NASDAQ:MU) with an outperformance recommendation.
Analyst price forecast suggests 0.48% upside
As of May 11, 2023, the one-year average price target for Micron Technology was 69.94. The forecast ranges from a low of 45.45 to a high of $105.00. The average price target represents an increase of 0.48% from its last published closing price of 69.61.
Check out our ranking of companies with the biggest upward price target.
The forecast annual turnover for Micron Technology is 18,788 million, a decrease of 18.54%. Projected annual non-GAAP EPS is 0.19.
Micron Technology declares a dividend of $0.12
On March 28, 2023, the company declared a regular quarterly dividend of $0.12 per share ($0.46 annualized). Shareholders of record as of April 10, 2023 received payment on April 25, 2023. Previously, the company paid $0.12 per share.
At the current share price of $69.61/share, the dividend yield of the stock is 0.66%.
Looking back five years and taking a sample each week, the average dividend yield was 0.83%, the lowest 0.42% and the highest 1.59%. The standard deviation of returns is 0.25 (n=237).
The current dividend yield is 0.69 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 as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company has not increased its dividend in the past three years.
What is fund sentiment?
There are 2271 funds or institutions reporting positions in Micron Technology. This is an increase of 9 owner(s) or 0.40% over the last quarter. The average portfolio weight of all funds dedicated to UM is 0.48%, an increase of 28.42%. The total number of shares held by institutions has increased over the past three months by 0.39% to 1,040,680,000 shares. MU’s put/call ratio is 1.48, indicating a bearish outlook.
What are the other shareholders doing?
Capital Research Global Investors holds 71,456,000 shares representing 6.53% ownership of the company. In its previous filing, the company said it held 64,750,000 shares, which represents an increase of 9.38%. The company increased its portfolio allocation in UM by 25.81% during the last quarter.
Sanders Capital holds 38,981,000 shares representing 3.56% ownership of the company. In its previous filing, the company said it held 41,038,000 shares, which represents a decline of 5.28%. The company increased its portfolio allocation in UM by 3.65% during the last quarter.
Primecap Management holds 38,950,000 shares representing 3.56% ownership of the company. In its previous filing, the company said it held 39,740,000 shares, down 2.03%. The company increased its portfolio allocation in UM by 12.70% during the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 33,045,045 shares representing 3.02% ownership of the company. In its previous filing, the company said it held 32,904,000 shares, which represents an increase of 0.42%. The company reduced its portfolio allocation to EM by 7.48% in the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares owns 25,132,000 shares representing 2.30% ownership of the company. In its previous filing, the company said it held 25,007,000 shares, which represents an increase of 0.50%. The company reduced its portfolio allocation to UM by 7.64% in the last quarter.
General information about Micron technology
(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 the way the world uses information to enrich the everyone’s life. Built on 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 such as mobile, data center, client, consumer, industrial, graphics, automotive and networking.
Key deposits for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
