Micron Technology Inc Stock Price, News & Analysis

Micron Technology (Nasdaq: MU) reported strong fiscal Q2 2022 results, achieving $7.79 billion in revenue, up from $7.69 billion in Q1 2022 and $6.24 billion year-over-year. GAAP net income was $2.26 billion ($2.00 per diluted share), while non-GAAP net income reached $2.44 billion ($2.14 per diluted share). Free cash flow for the quarter exceeded $1 billion. The company anticipates Q3 2022 revenue of $8.7 billion ± $200 million and a gross margin of 47.0% ± 1%. A quarterly dividend of $0.10 per share was also declared.

Micron Technology is collaborating with Idaho Power to launch a 40-megawatt solar project aimed at achieving 100% renewable energy for its U.S. operations by 2025. The facility, located near Micron's Boise headquarters, signifies a crucial step in their sustainability efforts. The project is under review by the Idaho Public Utilities Commission and is part of Idaho Power’s Clean Energy initiatives. Both companies emphasize the importance of renewable energy in maintaining their commitment to environmental responsibility.

Micron Technology, Inc. (Nasdaq: MU) has announced the launch of the world's first vertically-integrated 176-layer NAND SSD, the Micron 7450, aimed at data center workloads. This innovative SSD features latency below 2 milliseconds for 99.9999% QoS, significantly enhancing performance in various databases. With storage capacities ranging from 400GB to 15.36TB, including an 8TB compact E1.S form factor, the SSD supports the growing demand for power and thermal efficiencies. Additionally, it includes enhanced security features and is designed to comply with Open Compute Project specifications.

Micron Technology, Inc. (Nasdaq: MU) has scheduled its fiscal second quarter earnings conference call for March 29, 2022, at 2:30 p.m. Mountain time. The call will be accessible through a live webcast, which can be found on Micron's Investor Relations website. Replays of the presentations will also be available for approximately one year post-call. Micron emphasizes its leadership in memory and storage solutions, focusing on innovation that drives the data economy in areas such as artificial intelligence and 5G applications.

Silicon Labs (NASDAQ: SLAB) announced robust fourth-quarter results, with revenue hitting $209 million, a 43% year-on-year increase. GAAP gross margin was recorded at 61.3%, while non-GAAP diluted earnings per share reached $0.77. The company is focusing on the Internet of Things (IoT), launching new wireless SoCs and software tools. A new share repurchase program was approved for up to $250 million. For Q1 2022, revenue is projected between $220 to $230 million, with a GAAP EPS forecast of $0.15 to $0.25, indicating continued growth in the IoT market.

Micron Technology, Inc. (Nasdaq: MU) has commenced volume shipments of the world’s first 176-layer QLC NAND SSD, the Micron 2400 SSD, a significant achievement in storage technology. This innovation delivers an industry-leading storage density and optimized performance for client applications. The SSD offers 33% higher I/O speed and 24% lower read latency compared to its predecessor. The device is available in a compact 2TB 22x30mm form factor, offering excellent power efficiency and enhanced user experience, further driving the adoption of QLC in the client market.

Micron Technology, Inc. (Nasdaq: MU) announced the resignation of David Zinsner, the executive vice president and chief financial officer, effective immediately. Zinsner is leaving to join Intel Corporation as its CFO. In the interim, Sumit Sadana, currently the executive vice president and chief business officer, has been appointed as the interim CFO while a formal search for a new CFO is underway. Micron's financial guidance for the second quarter of fiscal 2022 remains unchanged, with the company expressing confidence in its strong financial position for continued growth.

Chronos Tech LLC has appointed Ali Farhang as the new CEO, assuming day-to-day leadership and joining the Board of Directors. With over 30 years in the semiconductor industry, Farhang previously served as Corporate Vice President at Micron Technology (NASDAQ: MU) and held senior roles at Intel (NASDAQ: INTC). His experience in leading R&D teams and advising startups positions him to enhance Chronos' commercialization efforts in developing advanced SoC fabric solutions targeting applications in AI and cloud computing.