Sun Microsystems Inc. (Nasdaq: SUNW) will divide its stock for second time this year.
The server and workstation maker on Friday announced plans for a 2-for-1 stock split, for shareholders of Nov. 11 record. The split will take effect Dec. 7, the company said. Sun will have 1.561 billion shares outstanding following the move.
Sun split its stock in April. The company previously declared splits in December of 1995 and 1996, and in 1989.
Over the past year, Sun's share price has risen more than 263 percent. It ended this week's regular trading at 88 11/16, up 4 from Thursday's closing price. The stock was up 1 to 89 11/16 in after hours trading Friday.
Of 22 Wall Street firms surveyed by Zack's Investment Research, 10 rate the Sun the equivalent of a "strong buy", nine have it as a "moderate buy", and three maintain "hold" advisories on the stock.>