Reading the tape
NASDAQ: MU
Micron Technology, Inc.
Technology · Semiconductors
Market Cap
$611.47B
52w High
$545.91
52w Low
$78.54
P/E
25.29
Volume
39.94M
Outstanding Shares
1.13B
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inHigh confidence
1Y Price: 597.2%Revenue (TTM): 85.55%FCF (TTM): 30.69%P/FCF: 91st pct
What changed
The stock rose 597.2% over the last year. Revenue grew 85.55% over the trailing twelve months. Operating margin moved from 19.76% to 48.52%. Free cash flow grew 30.69% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (91st percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 48.52% — continued expansion would be needed to justify the premium. Revenue growth of 85.55% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide.
CEOSanjay Mehrotra
SectorTechnology
IndustrySemiconductors
Employees48,000
IPO dateJun 1, 1984
Valuation
Forward P/E—
EV/EBITDA7.67
Enterprise value$141.79B
Stock splits
May 2, 2000↑ Forward
Every 1 shares became 2
May 23, 1995↑ Forward
Every 1 shares became 2
Apr 19, 1994↑ Forward
Every 2 shares became 5
Profitability & growth
Revenue growth196.29%
Gross margin58.44%▲78.01%vs FY2024
Operating margin48.52%▲408.50%vs FY2024
ROE15.76%▲814.50%vs FY2024
Analyst consensus
RatingBuy
Target price$455.86▼15.93%
55
Buy
11
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jun 24, 2026
Q2 FY26 · EPS est $19.31 · Revenue est $33.86B
View
Dividends
$0.50/shareQuarterly5yr growth streakSafeMU pays a dividend with a 0.09% dividend yield, 5 consecutive years of growth, growing at 10.56% annually, covered 3.2× by free cash flow.
Dividend Yield
0.09%
Annual Div / Share
$0.50
5yr CAGR
+10.56%
Doubles every ~6.9yr
Payout Ratio
2.19%
Safe
Dividend Growth Rate
3yr CAGR
+1.11%
5yr CAGR
+10.56%
10yr CAGR
+10.56%
Dividend Safety
10/10Safe
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$0.46+0.0%
2024$0.46+0.0%
2023$0.46+3.4%
2022$0.45+122.5%
2021$0.20+700.0%
1996$0.03-80.0%
1995$0.13+150.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$1/yr
$0/mo
In 5 yrs
$2/yr+65%
$0/mo
In 10 yrs
$2/yr+173%
$0/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$1/yr $0/mo | $2/yr+65% $0/mo | $2/yr+173% $0/mo |
Yield-on-cost grows from 0.09% → 0.25% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 3.2× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 10.56% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.
Congressional Activity
Congress Trades in MU
STOCK Act disclosures from senators and representatives.
John Fetterman
PAsenateDemocratPurchase2026-03-30$1,001 - $15,000+4d to disclose
Dwight Evans
PAhouseDemocratSale2026-03-24$15,001 - $50,000+28d to disclose
John Boozman
ARsenateRepublicanSale (Partial)Joint2026-01-26$1,001 - $15,000+19d to discloseJohn Boozman
ARsenateRepublicanSaleJoint2026-01-26$1,001 - $15,000+20d to discloseJohn Boozman
ARsenateRepublicanSale (Partial)Joint2026-01-08$1,001 - $15,000+37d to discloseJohn Boozman
ARsenateRepublicanSaleJoint2026-01-08$1,001 - $15,000+38d to disclose