Micron Technology, Inc. (NASDAQ:MU) is set to release earnings results for its second quarter, after the closing bell on Wednesday.

Analysts expect the company to report a quarterly loss of 26 cents per share, versus a year-ago loss of $1.91 per share in the year-ago period. Micron is projected to report quarterly revenue of $5.34 billion, according to data from Benzinga Pro.

On Tuesday, UBS analyst Timothy Arcuri maintained Micron with a Buy and raised the price target from $95 to $120, while Baird analyst Tristan Gerra maintained the stock with a Neutral and boosted the price target from $78 to $115.

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 0.72%, which is a quarterly dividend amount of 11.5 cents per share (46 cents a year).

So, how can investors exploit its dividend yield to pocket a regular $500 monthly?

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $1,226,042 or around 13,043 shares. For a more modest $100 per month or $1,200 per year, you would need $245,246 or around 2,609 shares.

Read This: Cramer Calls Datadog 'Dynamite,' Puts SoFi In Dog House: 'What The Heck Is Going On'

To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.46 in this case). So, $6,000 / $0.46 = 13,043 ($500 per month), and $1,200 / $0.46 = 2,609 shares ($100 per month).

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

How that works: The dividend yield is computed by dividing the annual dividend payment by the stock's current price.

For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).

Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.

MU Price Action: Shares of Micron gained 0.2% to close at $94.00 on Tuesday.

Read More: Around $9M Bet On Cardlytics? Check Out These 4 Stocks Insiders Are Buying

Photo: Tada Images/Shutterstock.com