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Micron Technology

Nasdaq:MU
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MU
Nasdaq
$37B
Market Cap
  1. Home
  2. US
  3. Semiconductors
Company description

Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide. The last earnings update was 63 days ago. More info.


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  • Micron Technology has significant price volatility in the past 3 months.
MU Share Price and Events
7 Day Returns
-9.4%
NasdaqGS:MU
-5.1%
US Semiconductor
0.2%
US Market
1 Year Returns
-45%
NasdaqGS:MU
-8.9%
US Semiconductor
2.9%
US Market
MU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Micron Technology (MU) -9.4% -20.9% -20.6% -45% 183% 18.3%
US Semiconductor -5.1% -13.7% -0.9% -8.9% 71.8% 91.4%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • MU underperformed the Semiconductor industry which returned -8.9% over the past year.
  • MU underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
MU
Industry
5yr Volatility vs Market
Related Companies

MU Value

 Is Micron Technology undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Micron Technology to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Micron Technology.

NasdaqGS:MU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 32 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:MU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.15
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.149 (1 + (1- 21%) (16.67%))
1.201
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.201 * 5.96%)
9.89%

Discounted Cash Flow Calculation for NasdaqGS:MU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Micron Technology is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:MU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.89%)
2019 4,455.15 Analyst x10 4,054.23
2020 3,376.54 Analyst x10 2,796.17
2021 3,469.00 Analyst x1 2,614.21
2022 2,705.95 Est @ -22% 1,855.67
2023 2,311.46 Est @ -14.58% 1,442.50
2024 2,094.51 Est @ -9.39% 1,189.48
2025 1,974.06 Est @ -5.75% 1,020.18
2026 1,910.75 Est @ -3.21% 898.60
2027 1,883.51 Est @ -1.43% 806.08
2028 1,880.14 Est @ -0.18% 732.23
Present value of next 10 years cash flows $17,409.34
NasdaqGS:MU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,880.14 × (1 + 2.73%) ÷ (9.89% – 2.73%)
$26,979.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $26,979.30 ÷ (1 + 9.89%)10
$10,507.18
NasdaqGS:MU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $17,409.34 + $10,507.18
$27,916.52
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $27,916.52 / 1,106.69
$25.23
NasdaqGS:MU Discount to Share Price
Calculation Result
Value per share (USD) From above. $25.23
Current discount Discount to share price of $33.82
= -1 x ($33.82 - $25.23) / $25.23
-34.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Micron Technology is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Micron Technology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Micron Technology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:MU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in USD $11.45
NasdaqGS:MU Share Price ** NasdaqGS (2019-05-23) in USD $33.82
United States of America Semiconductor Industry PE Ratio Median Figure of 69 Publicly-Listed Semiconductor Companies 20.23x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Micron Technology.

NasdaqGS:MU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:MU Share Price ÷ EPS (both in USD)

= 33.82 ÷ 11.45

2.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Micron Technology is good value based on earnings compared to the US Semiconductor industry average.
  • Micron Technology is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Micron Technology's expected growth come at a high price?
Raw Data
NasdaqGS:MU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 32 Analysts
-18.1%per year
United States of America Semiconductor Industry PEG Ratio Median Figure of 63 Publicly-Listed Semiconductor Companies 0.89x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NasdaqGS:MU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.95x ÷ -18.1%

-0.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Micron Technology earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Micron Technology's assets?
Raw Data
NasdaqGS:MU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in USD $31.25
NasdaqGS:MU Share Price * NasdaqGS (2019-05-23) in USD $33.82
United States of America Semiconductor Industry PB Ratio Median Figure of 107 Publicly-Listed Semiconductor Companies 2.5x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NasdaqGS:MU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:MU Share Price ÷ Book Value per Share (both in USD)

= 33.82 ÷ 31.25

1.08x

* Primary Listing of Micron Technology.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Micron Technology is good value based on assets compared to the US Semiconductor industry average.
X
Value checks
We assess Micron Technology's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. Micron Technology has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MU Future Performance

 How is Micron Technology expected to perform in the next 1 to 3 years based on estimates from 32 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-18.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Micron Technology expected to grow at an attractive rate?
  • Micron Technology's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Micron Technology's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Micron Technology's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:MU Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:MU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 32 Analysts -18.1%
NasdaqGS:MU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 32 Analysts -2.7%
United States of America Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
United States of America Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:MU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 32 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:MU Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-08-31 23,557 10,219 5,641 9
2020-08-31 22,185 11,547 5,030 32
2019-08-31 23,625 13,604 6,569 32
NasdaqGS:MU Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-02-28 29,985 17,661 13,060
2018-11-29 31,501 18,574 14,750
2018-08-30 30,391 17,400 14,135
2018-05-31 28,089 15,448 12,178
2018-03-01 25,858 13,594 10,002
2017-11-30 23,155 10,651 7,587
2017-08-31 20,322 8,153 5,089
2017-06-01 17,401 5,846 2,551
2017-03-02 14,733 3,828 689
2016-12-01 13,019 3,186 -302
2016-09-01 12,399 3,168 -276
2016-06-02 12,782 3,302 365
2016-03-03 13,737 4,248 1,071

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Micron Technology's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Micron Technology's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:MU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 32 Analyst Estimates (S&P Global) See Below

All data from Micron Technology Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:MU Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-08-31 5.23 6.19 4.52 3.00
2020-08-31 4.41 7.28 2.68 17.00
2019-08-31 5.70 6.16 5.18 17.00
NasdaqGS:MU Past Financials Data
Date (Data in USD Millions) EPS *
2019-02-28 11.45
2018-11-29 12.81
2018-08-30 12.27
2018-05-31 10.68
2018-03-01 8.88
2017-11-30 6.82
2017-08-31 4.67
2017-06-01 2.38
2017-03-02 0.65
2016-12-01 -0.29
2016-09-01 -0.27
2016-06-02 0.35
2016-03-03 1.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Micron Technology is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Micron Technology's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Micron Technology has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MU Past Performance

  How has Micron Technology performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Micron Technology's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Micron Technology has delivered over 20% year on year earnings growth in the past 5 years.
  • Micron Technology's 1-year earnings growth is less than its 5-year average (30.9% vs 42.1%)
  • Micron Technology's earnings growth has exceeded the US Semiconductor industry average in the past year (30.9% vs 28.6%).
Earnings and Revenue History
Micron Technology's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Micron Technology Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:MU Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 29,985.00 13,060.00 844.00 2,382.00
2018-11-29 31,501.00 14,750.00 831.00 2,304.00
2018-08-30 30,391.00 14,135.00 813.00 2,141.00
2018-05-31 28,089.00 12,178.00 778.00 2,021.00
2018-03-01 25,858.00 10,002.00 771.00 1,852.00
2017-11-30 23,155.00 7,587.00 762.00 1,802.00
2017-08-31 20,322.00 5,089.00 730.00 1,824.00
2017-06-01 17,401.00 2,551.00 704.00 1,788.00
2017-03-02 14,733.00 689.00 648.00 1,736.00
2016-12-01 13,019.00 -302.00 636.00 1,666.00
2016-09-01 12,399.00 -276.00 656.00 1,617.00
2016-06-02 12,782.00 365.00 673.00 1,585.00
2016-03-03 13,737.00 1,071.00 694.00 1,609.00
2015-12-03 14,969.00 2,102.00 706.00 1,585.00
2015-09-03 16,192.00 2,899.00 720.00 1,540.00
2015-06-04 16,819.00 3,578.00 729.00 1,519.00
2015-03-05 16,948.00 3,893.00 735.00 1,462.00
2014-12-04 16,889.00 3,690.00 725.00 1,427.00
2014-08-28 16,358.00 3,045.00 708.00 1,371.00
2014-05-29 14,974.00 3,603.00 672.00 1,280.00
2014-02-27 13,310.00 2,840.00 624.00 1,157.00
2013-11-28 11,281.00 1,823.00 570.00 1,027.00
2013-08-29 9,073.00 1,190.00 513.00 931.00
2013-05-30 8,193.00 -761.00 508.00 899.00
2013-02-28 8,047.00 -1,124.00 537.00 904.00
2012-11-29 7,978.00 -1,120.00 588.00 912.00
2012-08-30 8,234.00 -1,032.00 620.00 918.00
2012-05-31 8,411.00 -924.00 637.00 892.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Micron Technology has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Micron Technology used its assets more efficiently than the US Semiconductor industry average last year based on Return on Assets.
  • Micron Technology has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Micron Technology's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Micron Technology has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MU Health

 How is Micron Technology's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Micron Technology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Micron Technology is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Micron Technology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Micron Technology's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Micron Technology Company Filings, last reported 2 months ago.

NasdaqGS:MU Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 35,527.00 6,240.00 7,533.00
2018-11-29 34,836.00 4,134.00 5,563.00
2018-08-30 33,261.00 4,639.00 6,802.00
2018-05-31 29,518.00 7,349.00 7,071.00
2018-03-01 26,566.00 9,330.00 8,042.00
2017-11-30 23,393.00 9,063.00 6,174.00
2017-08-31 19,470.00 11,155.00 5,428.00
2017-06-01 17,019.00 11,671.00 4,330.00
2017-03-02 15,135.00 12,453.00 3,898.00
2016-12-01 13,168.00 9,676.00 4,169.00
2016-09-01 12,928.00 9,910.00 4,398.00
2016-06-02 13,034.00 9,631.00 4,981.00
2016-03-03 13,239.00 7,658.00 4,035.00
2015-12-03 13,275.00 7,419.00 3,641.00
2015-09-03 13,239.00 7,390.00 3,521.00
2015-06-04 13,355.00 7,599.00 4,860.00
2015-03-05 13,241.00 6,769.00 4,479.00
2014-12-04 12,493.00 5,829.00 4,230.00
2014-08-28 11,562.00 6,579.00 4,534.00
2014-05-29 10,697.00 5,733.00 4,264.00
2014-02-27 10,044.00 6,638.00 4,504.00
2013-11-28 10,146.00 5,803.00 3,870.00
2013-08-29 10,006.00 6,037.00 3,101.00
2013-05-30 8,026.00 3,624.00 2,552.00
2013-02-28 7,960.00 3,651.00 2,228.00
2012-11-29 8,186.00 3,435.00 2,271.00
2012-08-30 8,417.00 3,262.00 2,559.00
2012-05-31 8,486.00 3,198.00 2,325.00
  • Micron Technology's level of debt (17.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (65.8% vs 17.6% today).
  • Debt is well covered by operating cash flow (283%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 585.4x coverage).
X
Financial health checks
We assess Micron Technology's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Micron Technology has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MU Dividends

 What is Micron Technology's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Micron Technology dividends. Estimated to be 0% next year.
If you bought $2,000 of Micron Technology shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Micron Technology's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Micron Technology's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:MU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 32 Analyst Estimates (S&P Global) See Below
United States of America Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:MU Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-08-31 0.00 5.00
2020-08-31 0.00 7.00
2019-08-31 0.00 7.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Micron Technology has not reported any payouts.
  • Unable to verify if Micron Technology's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Micron Technology's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Micron Technology has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Micron Technology's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Micron Technology's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Micron Technology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Micron Technology has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MU Management

 What is the CEO of Micron Technology's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sanjay Mehrotra
COMPENSATION $14,241,583
AGE 59
TENURE AS CEO 2 years
CEO Bio

Mr. Sanjay Mehrotra has been the Chief Executive Officer, President and Director at Micron Technology, Inc. since May 8, 2017. Mr. Mehrotra has more than 29 years of experience in the non-volatile semiconductor memory industry including engineering and engineering management positions at Intel Corporation, Seeq Technology, Integrated Device Technology and Atmel Corporation. He co-founded SanDisk LLC in 1988 and served as its Chief Executive Officer from January 1, 2011 to May 12, 2016, President from June 2006 to May 12, 2016, Chief Operating Officer since 2001 and Executive Vice President. He served as Vice President of Engineering, Vice President of Product Development, Director of Memory Design and Product Engineering at SanDisk LLC. He served as the Chief Executive Officer and President of Cavium Networks Inc. He has been a Director of QLogic Corp since August 16, 2016 and served as Director at Western Digital Technologies, Inc. since May 12, 2016 until February 2017. He served as a Director of Cavium, Inc. (Cavium Networks, Inc.) since July 2009 until July 6, 2018. He serves as a Board Member of Divio. He serves on the Engineering Advisory Board of the University of California, Berkeley. He served as a Director of Western Digital Corporation from May 12, 2016 to February 6, 2017. He served as a Director of SanDisk LLC from July 21, 2010 to May 12, 2016. He holds several patents and has published articles in the area of non-volatile memory design and flash memory systems. Mr. Mehrotra received a B.S. and an MS Degrees in Electrical Engineering and Computer Sciences from the University of California, Berkeley and is a graduate of the Stanford Graduate School of Business Executive Program. He also studied from Birla Institute of Technology and Science (1974-1976).

CEO Compensation
  • Insufficient data for Sanjay to compare compensation growth.
  • Sanjay's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Micron Technology management team in years:

1.9
Average Tenure
52
Average Age
  • The average tenure for the Micron Technology management team is less than 2 years, this suggests a new team.
Management Team

Sanjay Mehrotra

TITLE
CEO, President & Director
COMPENSATION
$14M
AGE
59
TENURE
2 yrs

Dave Zinsner

TITLE
Senior VP & CFO
COMPENSATION
$6M
AGE
49
TENURE
1.3 yrs

Manish Bhatia

TITLE
Executive Vice President of Global Operations
COMPENSATION
$11M
AGE
46
TENURE
1.6 yrs

Scott DeBoer

TITLE
Executive Vice President of Technology Development
COMPENSATION
$4M
AGE
52
TENURE
1.9 yrs

Sumit Sadana

TITLE
Executive VP & Chief Business Officer
COMPENSATION
$6M
AGE
49
TENURE
1.9 yrs

Trevor Schultz

TITLE
Chief Information Officer & VP of Information Systems
AGE
76
TENURE
3.8 yrs

Shanye Hudson

TITLE
Head of Investor Relations

Joel Poppen

TITLE
Senior VP of Legal Affairs
COMPENSATION
$3M
AGE
54
TENURE
5.4 yrs

Mike Bokan

TITLE
Senior Vice President of Worldwide Sales
TENURE
0.6 yrs

Rahul Sandil

TITLE
Head of Global Marketing
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Micron Technology board of directors in years:

6.3
Average Tenure
62
Average Age
  • The tenure for the Micron Technology board of directors is about average.
Board of Directors

Bob Switz

TITLE
Chairman of the Board
COMPENSATION
$526K
AGE
72
TENURE
7.3 yrs

Sanjay Mehrotra

TITLE
CEO, President & Director
COMPENSATION
$14M
AGE
59
TENURE
2 yrs

Rich Beyer

TITLE
Independent Director
COMPENSATION
$376K
AGE
69
TENURE
6.3 yrs

Bob Bailey

TITLE
Independent Director
COMPENSATION
$373K
AGE
61
TENURE
12.3 yrs

Pat Byrne

TITLE
Independent Director
COMPENSATION
$373K
AGE
58
TENURE
8.1 yrs

Steve Gomo

TITLE
Independent Director
AGE
66
TENURE
0.6 yrs

Pat McCarthy

TITLE
Independent Director
AGE
62
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
24. Jul 18 Sell Steven Thorsen Individual 20. Jul 18 20. Jul 18 -40,000 $55.09 $-2,203,548
X
Management checks
We assess Micron Technology's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Micron Technology has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MU News

Simply Wall St News

Should You Like Micron Technology, Inc.’s (NASDAQ:MU) High Return On Capital Employed?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Micron Technology: 0.35 = US$14b ÷ (US$47b - US$7.4b) (Based on the trailing twelve months to February 2019.) So, Micron Technology has an ROCE of 35%. … Micron Technology's Current Liabilities And Their Impact On Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … The Bottom Line On Micron Technology's ROCE This is good to see, and with such a high ROCE, Micron Technology may be worth a closer look.

Simply Wall St -

Are Insiders Selling Micron Technology, Inc. (NASDAQ:MU) Stock?

So shareholders might well want to know whether insiders have been buying or selling shares in Micron Technology, Inc. … Check out our latest analysis for Micron Technology Micron Technology Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the , Steven Thorsen, sold US$2.2m worth of shares at a price of US$55.09 per share. … While we feel good about high insider ownership of Micron Technology, we can't say the same about the selling of shares.

Simply Wall St -

Is Micron Technology, Inc. (NASDAQ:MU) Potentially Underrated?

Help shape the future of investing tools and you could win a $250 gift card! … Looking at the company as a whole, as a potential stock investment, I believe MU has a lot to offer. … is a company with great financial health as well as a

Simply Wall St -

Do Micron Technology's (NASDAQ:MU) Earnings Warrant Your Attention?

So if you're like me, you might be more interested in profitable, growing companies, like Micron Technology (NASDAQ:MU). … One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … You can take a look at the company's revenue and earnings growth trend, in the chart below

Simply Wall St -

Is Micron Technology's (NASDAQ:MU) Share Price Gain Of 293% Well Earned?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Micron Technology achieved compound earnings per share growth of 124% per year. … The average annual share price increase of 58% is actually lower than the EPS growth.

Simply Wall St -

Do You Know What Micron Technology, Inc.'s (NASDAQ:MU) P/E Ratio Means?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Micron Technology, Inc.'s (NASDAQ:MU) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate Micron Technology's Price To Earnings Ratio

Simply Wall St -

Micron Technology, Inc.'s (NASDAQ:MU) Earnings Grew 31%, Did It Beat Long-Term Trend?

Below, I will assess MU's latest performance announced on 28 February 2019 and weigh these figures against its longer term trend and industry movements. … MU's trailing twelve-month earnings (from 28 February 2019) of US$13b has … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 42%, indicating the rate at which MU is growing has slowed down

Simply Wall St -

Micron Technology, Inc. (NASDAQ:MU): Financial Strength Analysis

Most investors favour these big stocks due to their strong balance sheet and high market liquidity, meaning there are an abundance of stock in the public market available for trading. … These companies are resilient in times of low liquidity and are not as strongly impacted by interest rate hikes as companies with lots of debt. … Using the most recent data for MU, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment.

Simply Wall St -

Could Micron Technology, Inc.'s (NASDAQ:MU) Investor Composition Influence The Stock Price?

Generally speaking, as a company grows, institutions will increase their ownership. … With a market capitalization of US$46b, Micron Technology is rather large. … See our latest analysis for Micron Technology

Simply Wall St -

At US$41.99, Is Micron Technology, Inc. (NASDAQ:MU) Worth Looking At Closely?

Help shape the future of investing tools and receive a $20 prize! … saw a significant share price rise of over 20% in the past couple of months on the NASDAQGS … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price.

Simply Wall St -

MU Company Info

Description

Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels. The company provides memory products for the cloud server, enterprise, client, graphics, and networking markets; memory products for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer SSD markets; other discrete storage products in component and wafer forms for the removable storage markets, as well as 3D XPoint memory products; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its internal sales force, independent sales representatives, distributors, and e-tailers; and Web-based customer direct sales channel, as well as through channel and distribution partners primarily to original equipment manufacturers and retailers. The company has strategic collaboration with BMW Group. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

Details
Name: Micron Technology, Inc.
MU
Exchange: NasdaqGS
Founded: 1978
$37,428,154,712
1,106,687,011
Website: http://www.micron.com
Address: Micron Technology, Inc.
8000 South Federal Way,
Boise,
Idaho, 83716,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS MU Common Stock Nasdaq Global Select US USD 01. Jun 1984
DB MTE Common Stock Deutsche Boerse AG DE EUR 01. Jun 1984
XTRA MTE Common Stock XETRA Trading Platform DE EUR 01. Jun 1984
LSE 0R2T Common Stock London Stock Exchange GB USD 01. Jun 1984
SWX MU Common Stock SIX Swiss Exchange CH CHF 01. Jun 1984
BIT MU Common Stock Borsa Italiana IT EUR 01. Jun 1984
WBAG MU Common Stock Wiener Boerse AG AT EUR 01. Jun 1984
BMV MU * Common Stock Bolsa Mexicana de Valores MX MXN 01. Jun 1984
BOVESPA MUTC34 BDR EACH 1 REP 1 COM USD0.10 Bolsa de Valores de Sao Paulo BR BRL 17. May 2019
Number of employees
Current staff
Staff numbers
36,000
Micron Technology employees.
Industry
Semiconductors
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 23:40
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/03/21
Last earnings reported: 2019/02/28
Last annual earnings reported: 2018/08/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.