Buying Micron Technology stock can be beneficial if you are interested in buying a company that produces memory for computers. This American company, which is headquartered in Boise, Idaho, produces Ballistix memory modules, which are marketed under the Crucial brand.
techanalyses.comDividend yield
Unlike most dividend paying companies in the Technology Hardware and Equip. space, Micron has a long history in the memory chip arena. A quick scan of the company's earnings report shows 5.43% of earnings were distributed as dividends in the trailing twelve months. In addition, the company recently hiked its quarterly dividend by 15%, a move that should bode well for future years.
A quick scan of the company's stock quote book revealed that the most recent ex-dividend date is November 18, 2022. The company has also recently announced plans to cut back on production volumes, a reversal of previous practices. In addition, Micron's stock is trading at a healthy premium to its lows of the past.
A close examination of the company's supplemental financials reveals that the Micron a-m-a-z-z-a-z-a-z-o-u-s dividend yield is not what it used to be. As a result, it is likely that the company's cash flow will be drained in the coming years. Consequently, the Payment of Dividends and Other Cash Distributions may be less than the sum of its parts by the end of the decade. Nevertheless, the company has a solid track record in the industry, and its recent announcement to raise its dividend by 15% should provide some welcome relief.
The big question is whether or not the company can maintain its current level of success. To answer this, it will need to continue to raise its quarterly dividends and to maintain its free cash flow. For the time being, it may be better to take the company's word for it and enjoy its dividends on a case by case basis. It's a smart move, and one that could boost the company's stock price significantly over the long run. The stock has a market capitalization of just over $5 billion, and is traded on the New York Stock Exchange. In addition to its hefty dividend, Micron Technology also offers an array of financial products and services for its corporate and institutional clients, including asset-backed and debt-based lines of credit and commercial lending. This gives the company the flexibility to pursue a number of growth opportunities in the future.
Recent earnings
During the past month, Micron Technology stock has returned 13%. The stock has outperformed the S&P 500. The stock price has also increased significantly in the last year. It has been trading at a discount to its peers.
Micron is a memory solutions provider. It has a variety of products, including DRAM, NAND flash, and solid-state drives. It sells these products to a range of customers, from cloud servers to graphics. The company has a strong balance sheet and deep customer relationships. Its revenue has grown at an average rate of 12.9% per year for the past three years. The company's revenue is an important indicator of financial health. It's revenue growth has been lagging this quarter, however.
Micron's fiscal fourth quarter ended on September 29. In this quarter, the company reported a profit of $1.49 billion, which was a significant improvement over the $2.72 billion it earned in the same period a year ago. In the past quarter, Micron's revenue fell by 20%. It missed analysts' expectations by 1.96%.
For the current quarter, the company is expected to post a profit of $0.04 per share. It has guided much lower for the current quarter. During the past year, the company's revenues declined by 19.7%. This is a sign of weak demand. Its product portfolio includes NOR, DRAM, and three-dimensional (3D) XPoint memory. Its DRAM chips work closely with central processing units.
The company has a market capitalization of $56.2 billion. This is calculated by multiplying its share price with the number of shares it has outstanding. In the past quarter, it traded at a premium to its peers, gaining nearly 2.5x. The company is rated by Zacks Investment Research as a Hold. Its IBD Composite Rating is 45 out of 99.
The company's earnings are the most reliable indicator of its financial health. The company has beat consensus earnings estimates in each of the trailing four quarters. The company is currently predicted to post a profit of $0.17 per share in its next fiscal year.