Micron Technology (NYSE: MU) plans to split its stock in several weeks.
After market close Wednesday, the memory chip giant said its board announced a 2-for-1 stock split to take effect May 1 for shareholders of April 18 record. It will be the third stock split for Micron since the company went public in 1989.
Shares of Micron rose as high as 134 1/2 in afterhours activity. The stock closed Wednesday's regular trading at 134 1/2, down 6 for the session amid a decline amid tech stocks in general.
The split announcement comes a week after Micron reported fiscal second quarter earnings and predicted a strong third quarter. Micron reported about 278.6 million diluted shares outstanding for the second quarter.>