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Micron Technology, Inc. - MU STOCK NEWS

Welcome to our dedicated page for Micron Technology news (Ticker: MU), a resource for investors and traders seeking the latest updates and insights on Micron Technology stock.

Micron Technology, Inc. (NASDAQ: MU) is a leading American semiconductor company, specializing in the production and innovation of memory and data storage solutions. Based in Boise, Idaho, Micron is renowned for its dynamic random-access memory (DRAM), flash memory, and USB flash drives. Micron’s consumer products, such as the Ballistix line of memory modules, are marketed under the Crucial® brand.

As one of the largest semiconductor companies globally, Micron serves a diverse range of markets, including data centers, mobile, consumer electronics, industrial, and automotive applications. The company’s integrated model enables it to oversee the entire production process, ensuring high-quality and innovative solutions. Micron’s DRAM remains the primary revenue driver, with additional contributions from NAND flash memory.

Recent highlights include the introduction of the 4150AT SSD, designed for automotive applications. This SSD boasts enterprise-class speeds and enhanced multi-tasking capabilities, making it ideal for the evolving needs of software-defined vehicles. Micron’s innovation extends to the 2500 SSD, a client SSD that leverages advanced QLC NAND technology to lead in performance and reliability, enhancing everyday computing experiences.

Micron’s strategic investments, buoyed by federal and state incentives such as the $6.1 billion from the CHIPS and Science Act, have paved the way for groundbreaking projects in Idaho and New York. These projects are set to create thousands of jobs and significantly boost U.S. semiconductor manufacturing capabilities.

In the realm of high-capacity memory, Micron has achieved another milestone by shipping its 128GB DDR5 RDIMM memory. This product, powered by the 1β (1-beta) technology, offers superior performance, efficiency, and latency, catering to the demanding needs of data centers and AI applications.

Micron’s commitment to community development is also evident, as demonstrated by its $20 million investment in Community Development Financial Institutions (CDFIs). This initiative aims to bolster financial inclusion and economic opportunities in underserved communities.

For more information about Micron Technology, Inc., visit micron.com.

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Micron Technology (Nasdaq: MU) has launched the Crucial P310 2230 Gen4 NVMe SSD, targeting handheld gaming, ultrathin laptops, and mini PCs. This new SSD offers:

  • Industry-leading read speeds of 7,100 MB/s
  • Write speeds of 6,000 MB/s
  • Capacities up to 2TB
  • Random reads up to 1 million IOPS
  • Power-efficient storage for extended battery life

The P310 2230 is compatible with devices like Valve Steam Deck, ASUS ROG Ally, and select Microsoft Surface and Dell models. It's available now through various channels with a five-year warranty. A P310 2280 version for PC gaming is expected in fall 2024.

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Micron Technology (Nasdaq: MU) has announced the sampling of its multiplexed rank dual inline memory modules (MRDIMMs), designed to enhance performance for memory-intensive data center workloads. These MRDIMMs offer up to 256GB capacity with 40% lower latency compared to current TSV RDIMMs. Key advantages include:

- Up to 39% increase in effective memory bandwidth
- Greater than 15% better bus efficiency
- Up to 40% latency improvements
- Support for 32GB to 256GB capacities
- Improved thermal design reducing DRAM temperatures by up to 20°C

Compatible with Intel Xeon 6 processors, MRDIMMs are set to ship in volume in the second half of 2024, promising to accelerate AI, HPC, and virtualized multi-tenant workloads while optimizing energy efficiency and total system task energy.

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Micron Technology (Nasdaq: MU) has released its 2024 sustainability report, outlining significant progress in environmental sustainability, equality, inclusion, and innovation. The company achieved an 11% reduction in scope 1 greenhouse gas emissions compared to its 2020 baseline and is on track for 100% renewable electricity in the U.S. by 2025. Micron also reported improvements in water reuse and aims to divert 95% of its waste from landfills by 2030. The company has maintained pay equity since 2018 and expanded its analysis to include race, disabilities, and veterans. In addition, Micron spent $510 million on diverse suppliers in FY23 and invested over $11 million in STEM initiatives. Innovation highlights include the HBM3E memory solution, which reduces power consumption by ~30% while offering superior performance.

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Micron Technology (Nasdaq: MU) has released its results for the third quarter of fiscal 2024, ending May 30, 2024. The company reported a significant revenue increase of $6.81 billion, up from $5.82 billion in the previous quarter and $3.75 billion in the same period last year.

GAAP net income stood at $332 million, or $0.30 per diluted share, while non-GAAP net income was $702 million, or $0.62 per diluted share. Operating cash flow reached $2.48 billion, a substantial rise from $1.22 billion in the prior quarter and $24 million the previous year.

Driven by robust AI demand, Micron experienced a 50% sequential growth in data center revenue. The company's data center SSD revenue achieved a record high. Investments in capital expenditures were $2.06 billion, resulting in adjusted free cash flows of $425 million. Micron ended the quarter with $9.22 billion in cash and marketable investments.

Looking ahead, Micron provided guidance for the fourth quarter of 2024, forecasting revenue at $7.60 billion ± $200 million and a gross margin of 33.5% ± 1.0% on a GAAP basis.

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Micron Technology (Nasdaq: MU) has announced a $4M deposit with Clarity Credit Union, reaching its $20M commitment with the Economic Opportunity Coalition (EOC). The deposit aims to boost financial services and education in Idaho's rural areas. Over the past year, Micron has also deposited $10M with Carver Federal Savings Bank, $3M with Syracuse Cooperative Federal, and $3M with Locus. The initiative is part of Micron's broader efforts to support underserved communities through diverse financial institutions. The company recently received $6.1B from the U.S. CHIPS and Science Act and plans significant investments in U.S. memory manufacturing, which includes creating thousands of jobs in Idaho.

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Air Liquide has announced a significant investment of over $250 million to build a new industrial gas production facility in Idaho, USA. This facility will support the new fab of Micron Technology (MU) and other local customers, producing ultra-pure nitrogen and other gases essential for manufacturing memory chips. The plant is expected to be operational by the end of 2025, creating hundreds of jobs in the region. The facility will integrate advanced digital technologies, aiming to optimize reliability and energy efficiency. This project aligns with Air Liquide's commitment to technological innovation and environmental sustainability, targeting 100% renewable energy use within five years. The initiative is part of Air Liquide's 2025 strategic plan, ADVANCE, which emphasizes financial and extra-financial performance.

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Micron Technology (Nasdaq: MU) has announced the sampling of its next-generation GDDR7 graphics memory at Computex, Taipei. Leveraging 1β DRAM technology, GDDR7 offers 32 Gb/s high-performance with over 1.5 TB/s bandwidth, a 60% increase compared to GDDR6. It also boasts a 50% power-efficiency improvement and up to 70% reduced standby power. GDDR7 enhances gaming and AI applications by increasing throughput by 33% and reducing response times by 20%, with anticipated 30% FPS improvement in graphics cards. It completes Micron's product portfolio for edge AI and high-performance computing. Cadence and AMD have collaborated with Micron on this launch, with product availability set for the second half of 2024.

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Micron Technology (Nasdaq: MU) will report its fiscal third-quarter results on June 26, 2024. The earnings conference call will be held at 2:30 p.m. Mountain time and will be available via webcast on their Investor Relations website. Replays of the call will be accessible for one year following the event.

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Micron Technology has announced a strategic expansion in workforce development to address the growing demand for semiconductor talent in the U.S. The company is partnering with GlobalFoundries, the U.S. National Science Foundation, and various Minority Serving Institutions (MSIs) to increase access to STEM education and career opportunities. Initiatives include launching the MSI Semiconductor Network and collaborating with Kenyan universities to create pathways for STEM students. The project is supported by significant funding, including $6.1 billion from the U.S. CHIPS and Science Act. Micron aims to build a diverse talent pipeline, important for its planned $50 billion investment in U.S. semiconductor manufacturing.

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Micron Technology, Inc. (Nasdaq: MU) executives will participate in fireside chats at two upcoming investor events: J.P. Morgan’s conference on May 21 and Goldman Sachs’ conference on May 30. The presentations will be accessible via webcasts on Micron's Investor Relations website.

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FAQ

What products does Micron Technology, Inc. specialize in?

Micron specializes in DRAM, flash memory, and USB flash drives. Their products are used in data centers, mobile phones, consumer electronics, and automotive applications.

Where is Micron Technology headquartered?

Micron Technology is headquartered in Boise, Idaho, USA.

What is the latest innovation from Micron for automotive applications?

Micron recently introduced the 4150AT SSD, which is designed to support advanced driver-assistance systems (ADAS) and in-vehicle infotainment systems with high-performance storage capabilities.

What are the key features of Micron's 2500 SSD?

The Micron 2500 SSD uses advanced QLC NAND technology to offer best-in-class performance and reliability, making it ideal for enhancing everyday computing experiences.

How is Micron contributing to the U.S. semiconductor industry?

Micron is investing in leading-edge memory manufacturing facilities in Idaho and New York, creating thousands of jobs and boosting U.S. semiconductor production capabilities.

What is Micron's 128GB DDR5 RDIMM memory used for?

Micron's 128GB DDR5 RDIMM memory is used in data centers and AI applications, providing high capacity, improved performance, and energy efficiency.

How is Micron involved in community development?

Micron has invested $20 million in Community Development Financial Institutions (CDFIs) to enhance financial inclusion and economic opportunities in underserved communities.

What brands fall under Micron's consumer product portfolio?

Micron’s consumer products, including memory modules, are marketed under the Crucial® brand.

What federal support has Micron received for its U.S. projects?

Micron received $6.1 billion from the CHIPS and Science Act to support its investment in leading-edge memory manufacturing through 2030.

Where can I find more information about Micron Technology, Inc.?

More information about Micron Technology, Inc. can be found on their website at www.micron.com.

Micron Technology, Inc.

Nasdaq:MU

MU Rankings

MU Stock Data

126.53B
1.11B
0.27%
84.66%
2.62%
Semiconductor and Related Device Manufacturing
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United States of America
BOISE