Micron Technology Inc Stock Price, News & Analysis

Micron Technology (Nasdaq: MU) announced its participation in two upcoming investor events. CFO David Zinsner will engage in a fireside chat at the Barclays Americas Select Franchise Conference on May 19 at 9:00 AM MT. CEO Sanjay Mehrotra will participate in a fireside chat at the J.P. Morgan Global Technology, Media and Communications Conference on May 25 at 9:00 AM MT. Live webcasts and replays can be accessed on Micron's Investor Relations website.

Micron is a leader in memory and storage solutions, delivering products that drive advancements in AI and 5G.

Micron Technology, Inc. (Nasdaq: MU) announced that all eligible sites have been recognized by Great Place to Work® as part of the Best Workplace List™. This includes Micron facilities in China, Germany, Japan, Italy, Singapore, and Taiwan. The company was certified as a Great Place to Work in multiple countries. April Arnzen, chief people officer, highlighted the company’s commitment to employee engagement during the pandemic. Micron ranks as the fourth-largest semiconductor manufacturer globally, employing around 40,000 people across 17 countries.

Micron Technology (Nasdaq: MU) reported strong second quarter fiscal 2021 results, achieving revenue of $6.24 billion, up from $5.77 billion in the prior quarter and $4.80 billion year-over-year. GAAP net income was $603 million, or $0.53 per diluted share. Non-GAAP results showed net income of $1.13 billion, or $0.98 per diluted share. The company generated operating cash flow of $3.06 billion. Looking ahead, Micron forecasts revenue of $7.1 billion ± $200 million for Q3 2021, with a gross margin of 40.5%.

Micron Technology, Inc. (Nasdaq: MU) has achieved global pay equity in total employee compensation, including base pay, bonuses, and stock rewards. This milestone supports the company’s diversity, equality, and inclusion (DEI) initiatives. Micron's approach, which extends beyond gender pay equity to include various underrepresented groups, aims to enhance employee well-being and retention. The company utilizes technology to address pay variances and ensures that all team members feel valued and respected. Micron’s commitment to DEI informs its strategic goals and operations globally.

Micron Technology (Nasdaq: MU) announced the appointment of Jeremy Werner as corporate vice president and general manager of its Storage Business Unit. Werner, with 20 years of experience in storage technology, previously led KIOXIA America's SSD business unit. He holds a Bachelor of Science in Electrical Engineering from Cornell University and boasts 21 patents. Sumit Sadana, Micron's executive vice president, expressed confidence in Werner's leadership to drive growth and deliver innovative storage solutions. Derek Dicker, the predecessor, will assist in the transition as a senior advisor over the next two months.

Micron Technology (Nasdaq: MU) announced a strategic shift to enhance its focus on memory and storage innovations for the data center. The company will cease development of 3D XPoint™ and redirect resources to CXL-enabled memory products, which are critical for evolving data center architectures. This change is influenced by the growing demand for advanced memory solutions in the face of artificial intelligence and data analytics. Micron is also considering selling its Lehi, Utah fab dedicated to 3D XPoint production, aiming for an agreement by the end of 2021, although these actions may yield nonrecurring financial results.

Micron Technology, Inc. (Nasdaq: MU) has appointed Raj Hazra as the new senior vice president and general manager of its Compute and Networking Business Unit, succeeding Tom Eby, who will retire this April after over a decade. Hazra, who joined Micron in June 2020, brings over 20 years of experience, particularly in data centers, having previously worked at Intel. His technical expertise and leadership are expected to drive growth in key sectors like cloud computing and artificial intelligence.

Micron Technology, Inc. (Nasdaq: MU) raised its guidance for Q2 FY2021, citing an expected revenue increase to between $6.20 billion and $6.25 billion, up from $5.6 billion to $6.0 billion. The gross margin forecast has also improved to 30% - 32% from 24% - 26%. Diluted earnings per share (EPS) is now projected between $0.68 and $0.82, compared to the previous estimate of $0.34 - $0.48. The company's CFO will discuss these developments at the Morgan Stanley Technology Conference on March 3, 2021.