Micron Announces New Share Repurchase Program

During its May 21 Analyst and Investor event, Micron technology, Inc. (MU) announced that its Board of Directors authorized a new share repurchase program. The company will be able to purchase up to $10 billion of its outstanding common stock. In addition, Micron announced plans to return up to 50% of free cash flow to shareholders beginning in the 2019 fiscal year.

 

Sonal alerted subscribers about the event at 5:00 pm. The next trade took place at 5:01 pm for $57.19. Regular market trading opened the next morning at $59.07. The stock price continued to rise over the next five trading days before closing on May 30 at $62.55.

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