Micron Technology, Inc. (NASDAQ:MU) will release its second-quarter financial results after the closing bell on Thursday, March 20.

Analysts expect the Boise, Idaho-based company to report quarterly earnings at $1.42 per share, up from 42 cents per share in the year-ago period. Micron projects quarterly revenue of $7.9 billion, compared to $5.82 billion a year earlier, according to data from Benzinga Pro.

On Monday, UBS analyst Timothy Arcuri maintained Micron Technology with a Buy rating and raised the price target from $125 to $130.

With the recent buzz around Micron, some investors may be eyeing potential gains from the company's dividends too. As of now, Micron offers an annual dividend yield of 0.45%, which is a quarterly dividend amount of 12 cents per share (46 cents a year).

To figure out how to earn $500 monthly from Micron, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by Micron's $0.46 dividend: $6,000 / $0.46 = 13,043 shares.

So, an investor would need to own approximately $1,331,169 worth of Micron, or 13,043 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.48 = 2,609 shares, or $266,275 to generate a monthly dividend income of $100.

Note that dividend yield can change on a rolling basis, as the dividend payment and stock price both fluctuate over time.

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield will decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains unchanged. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

MU Price Action: Shares of Micron gained by 0.3% to close at $102.06 on Wednesday.

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