Micron Technology Inc Stock Price, News & Analysis

Micron Technology, Inc. (Nasdaq: MU) announced the appointment of Rob Beard as the new senior vice president, general counsel, and corporate secretary, succeeding Joel Poppen, who will retire in mid-2022 after over 26 years with the company. Beard's legal expertise will strengthen Micron's global legal and compliance functions. Previously, he led corporate operations at Micron and practiced at top international law firms. Poppen will continue as a special advisor until his retirement, highlighting his significant contributions to Micron's growth and industry leadership.

Micron Technology (Nasdaq: MU) reported fiscal Q1 2022 revenue of $7.69 billion, down from $8.27 billion in the previous quarter, but up from $5.77 billion a year ago. GAAP net income reached $2.31 billion, or $2.04 per diluted share. Non-GAAP net income was $2.47 billion, or $2.16 per diluted share. The company announced a quarterly dividend of $0.10 per share and maintained a strong cash position of $11.48 billion with a net cash of $4.46 billion. Micron projects Q2 2022 revenue guidance of $7.5 billion ± $200 million.

Micron Technology (Nasdaq: MU) announced that Chief Financial Officer David Zinsner will participate in a fireside chat at the J.P. Morgan Tech/Auto Forum on January 5, 2022, at 10:55 a.m. Mountain time. The event will be webcast live from the Bellagio Hotel in Las Vegas, and interested parties can access the live broadcast and replays through Micron's Investor Relations website. Micron is recognized for its innovative memory and storage solutions, enhancing the data economy and supporting advancements in technologies such as artificial intelligence and 5G.

Micron Technology, Inc. (Nasdaq: MU) announced plans for a new memory design center in Midtown Atlanta, set to open in January 2022. This move aims to enhance Micron's access to local technical talent and foster partnerships with regional institutions such as Emory University and Georgia Tech. The center is projected to create up to 500 jobs in STEM fields, advancing Micron's leadership in DRAM and NAND technologies crucial for AI, 5G, and autonomous vehicles. This expansion is part of Micron's strategy to respond to the growing demand for memory and storage solutions.

Micron Technology (Nasdaq: MU) announced an expansion of its partnership with United Microelectronics Corporation (UMC) aimed at securing supply for automotive, mobile, and critical customers. This collaboration will enhance supply chain strength and address customer needs in the semiconductor industry. Micron's Executive VP, Manish Bhatia, emphasized the importance of this relationship for accessing essential products. UMC expressed its commitment to supporting Micron's goals with their advanced manufacturing capabilities, reinforcing the significance of industry collaboration.

United Microelectronics Corporation (NYSE: UMC) and Micron Technology (Nasdaq: MU) have reached a global settlement, withdrawing mutual complaints. UMC shall make a one-time payment to Micron. Both companies aim for future business collaboration. Micron, a major player in the semiconductor sector, boasts over 47,000 patents and emphasizes IP protection for competitive advantage. UMC specializes in logic and specialty semiconductor fabrication, having a capacity of nearly 800,000 wafers per month across its 12 fabs.

Micron Technology, Inc. (Nasdaq: MU) has announced a settlement with United Microelectronics Corporation (UMC) regarding their worldwide complaints against each other. UMC will make a one-time, undisclosed payment to Micron, and both companies are optimistic about future business cooperation. Micron, a major player in the semiconductor industry, boasts over 47,000 patents and emphasizes the importance of intellectual property for its competitiveness. UMC operates 12 fabs with a combined capacity close to 800,000 wafers per month, strengthening its position in logic and specialty products.

Micron Technology, Inc. (Nasdaq: MU) has announced the validation of its low-power double data rate 5X (LPDDR5X) DRAM by MediaTek for the Dimensity 9000 5G chipset. This marks Micron as the first semiconductor company to deliver this advanced mobile memory, supporting data rates up to 8.533 Gb/s—a 33% increase over LPDDR5. The LPDDR5X memory is crucial for high-end smartphones, enhancing capabilities in AI and 5G applications. With peak bandwidth capabilities reaching 60 GB/s, Micron's innovation is set to drive significant advancements in the smartphone ecosystem.

Micron Technology, Inc. (Nasdaq: MU) will hold its fiscal year 2022 first-quarter earnings conference call on Monday, Dec. 20, at 2:30 p.m. Mountain time. CEO Sanjay Mehrotra and CFO David Zinsner will also participate in a fireside chat at the Credit Suisse 25th Annual Technology Conference on Wednesday, Dec. 1, at 9:20 a.m. Mountain time. Interested parties can access the live webcast for both events via Micron's Investor Relations website. Replays will be available for up to one year.