Micron Technology Raises Stock Buyback Cap to $35.16 Billion
Micron Technology increased its stock buyback authorization to $35.16 billion following a surge in free cash flow.
The board of directors of Micron Technology increased the company's stock buyback authorization to $35.16 billion on October 8, 2026. This new cap is more than four times the total amount the memory chipmaker spent on repurchases between fiscal 2019 and 2026.
The expansion follows a significant increase in adjusted free cash flow, which reached $33.2 billion in the fourth quarter of fiscal 2026. CFO Mark Murphy stated the company has "the ability and the intent to increase our capital return."
To comply with federal CHIPS Act funding agreements, the expanded program is scheduled to begin on December 9, 2026. These agreements provide up to $6.4 billion in grants for plants in the United States but impose specific conditions and caps on share repurchases. Analysts note that the current high share price may limit the program's effectiveness in significantly reducing the total share count.
