Micron Announces Plan for Share Buybacks Using Excess Cash
Micron Technology (NASDAQ: MU) reported a significant increase in free cash flow, reaching $62.3 billion for its fiscal year ending September 3, up from $3.7 billion the previous year. The company plans to return all excess cash to shareholders starting December 9 through buybacks and other capital returns. Despite having over $68 billion in net cash on hand, Micron has only spent a small portion of it for share repurchases so far. The timing of increased buyback activity is tied to the CHIPS Act funding agreements, with CFO Mark Murphy indicating that larger-scale repurchase efforts will begin after December 9, 2026. Based on current stock prices and free cash flow figures, Micron could potentially retire around 5% of its outstanding shares annually through these initiatives. Micron's strong financial performance includes a year-over-year revenue increase of 379%, reaching $54.2 billion in the fourth quarter alone.
Tickers: $MU
Topics: buybacks capital return financial results free cash flow