MU - Micron Technology, Inc.
| Previous Close | 33.19 |
| Open | 33.35 |
| Bid | 0.00 x 800 |
| Ask | 0.00 x 4000 |
| Day's Range | 32.61 - 33.88 |
| 52 Week Range | 28.39 - 58.15 |
| Volume | 39,590,484 |
| Avg. Volume | 24,755,559 |
| Market Cap | 36.167B |
| Beta (3Y Monthly) | 1.67 |
| PE Ratio (TTM) | 2.98 |
| EPS (TTM) | 10.97 |
| Earnings Date | Sep 18, 2019 - Sep 23, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | 1996-05-07 |
| 1y Target Est | 44.62 |
- Reuters•41 minutes ago
PRESS DIGEST- New York Times business news - June 26
- United States chip makers including Intel Corp and Micron Technology Inc are still selling millions of dollars of products to Huawei Technologies Co Ltd despite a Trump administration ban on the sale of American technology to the Chinese telecommunications giant, according to four people with knowledge of the sales. - The drugmaker AbbVie Inc said on Tuesday that it planned to buy Allergan Plc, the maker of Botox, for about $63 billion. - Online home furnishings giant, Wayfair's employees are planning to walk out of the company's Boston headquarters on Wednesday to protest its sale of $200,000 worth of bedroom furniture to a government contractor that operates a network of shelters for migrant children near the southwestern border.
- Investor's Business Daily•3 hours ago
Dow Jones Futures: Micron Earnings Offer Hope After Stock Market Rally Stumbles
Micron beat earnings views and sees higher demand. Shares of the chipmaker spiked late, lifting tech futures. Growth stocks sold off hard Tuesday, a bad sign for the market rally.
- Bloomberg•3 hours ago
U.S. Companies Find Legal Ways Around Trump’s Huawei Blacklist
(Bloomberg) -- American technology companies have resumed selling certain products to Huawei Technologies Co. after concluding there are legal ways to work with the Chinese telecom giant in spite of its inclusion on a Trump Administration blacklist.Micron Technology Inc., the largest U.S. maker of computer memory chips, said on Tuesday that it had started shipping some components to Huawei after its lawyers studied export restrictions. Intel Corp., the largest microprocessor maker, has also begun selling to Huawei again, according to a person familiar with the matter. It’s not clear how many other suppliers have reached the same conclusion.The U.S. Commerce Department added Huawei last month to what’s known as an entity list, a move designed to bar the Chinese company from buying American components and software. The Trump Administration said Huawei helps Beijing in espionage and represents a security threat -- charges the company denies. Officials at Commerce and the White House are frustrated that companies have resumed Huawei shipments, according to another person familiar with the matter. The White House didn’t immediately respond to a request for comment.The chipmakers are taking advantage of certain exceptions to the export restrictions. Even when companies have headquarters in the U.S., they may be able, through ownership of overseas subsidiaries and operations, to classify their technology as foreign, according to Cross Research analyst Steven Fox. If less than 25% of the technology in a chip originates in the U.S., for example, then it may not be covered by the ban, under current rules.“It took them weeks to figure this out,” Fox said. “What they did was look at the laws and the rules and applied them to their business.”Micron has operations all over the world, some added through acquisitions, and it owns plants in Singapore, Japan and Taiwan. Intel has factories in China and Ireland and a major design center and production facility in Israel. The company declined to comment.Companies like Micron and Intel can legally continue some shipments to Huawei under what’s known as the de minimis rule, says Kevin Wolf, former head of the Commerce Department’s export control section.“Commodities made overseas from U.S.-origin technology are only subject to the entity list prohibitions if the technology and commodity are sensitive items controlled for ‘national security’ reasons,” Wolf said. “But a commodity made overseas from less sensitive U.S.-origin technology is not subject to the entity list prohibitions.”The de minimis threshold is 25%, according to the Commerce Department.National security hawks in the Trump Administration thought that inclusion on the entity list would ratchet up pressure on Huawei, but they didn’t understand or misinterpreted the existing rules, people familiar with internal deliberations said. Those advisers didn’t fully grasp the limits of export controls in constricting supply chains that reach deeply into China.Micron Chief Executive Officer Sanjay Mehrotra, in a conference call discussing his company’s earnings, declined to explain his analysis, despite repeated questions. In a brief interview after the call, he also wouldn’t elaborate and said he hopes the U.S. and China quickly resolve their trade dispute.The Semiconductor Industry Association trade group put out a statement aimed at supporting its members’ right to keep working with an important customer: “SIA companies are committed to rigorous compliance with U.S. export control regulations. As we have discussed with the U.S. government, it is now clear some items may be supplied to Huawei consistent with the Entity List and applicable regulations.”The trade war and Huawei sanctions put U.S. chipmakers in a tough position. They need to comply with new rules in their home country, while at the same time navigating the intricacies of business in China, an increasingly crucial market. More than 60% of the $470 billion of chips sold last year went through China.If Huawei’s American suppliers can resume some sales, that may avoid the detrimental financial impact many have been anticipating. Micron’s stock surged as much as 11% in extended trading.Even though these companies have found ways to legally keep exporting some of their products to Huawei, they are prohibited from providing post-sale support like software updates, repairs or installation help. That means that while an item in a box can be shipped from Taiwan to China, for example, the company still can’t provide information on software repairs or assistance from Silicon Valley. Wolf said that, in his experience, that can be a significant handicap.Finding legal ways to sidestep restrictions is taking on added significance for U.S. companies as the Trump Administration expands curbs on technology exports to China. Last week, the Commerce Department blacklisted five Chinese entities over accusations they were developing supercomputers for military applications. Bloomberg has also reported that some Chinese video surveillance firms may be barred from U.S. suppliers.The Commerce Department could easily change the definition of what foreign-made items are subject to the regulations. That change wouldn’t require Congressional approval, Wolf said. Still, it’s not clear if the Trump administration is looking into making such changes.“Micron will continue to comply with all government and legal requirements just as we do in all our operations globally,” said Micron CEO Mehrotra. “Of course, we cannot predict whether additional government actions may further impact our ability to ship to Huawei.”To contact the reporters on this story: Ian King in San Francisco at ianking@bloomberg.net;Jenny Leonard in Washington at jleonard67@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Tom GilesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- TheStreet.com•5 hours ago
Micron Jumps on Better-Than-Feared Results and Guidance: 7 Key Takeaways
Though Micron is still reporting large revenue and memory price declines, its numbers and DRAM outlook were stronger than many feared.
- MarketWatch•5 hours ago
Micron investors may be too hopeful that the end of the downturn is near
Micron Technology investors risk getting ahead of themselves with too much optimism about the rest of the year
- Motley Fool•5 hours ago
After Hours: Micron Crushes Q3 Estimates, Target Deal Days Announced
Two big names in their respective industries top analyst projections, while Target sets its sights on a monster rival.
Motley Fool•6 hours agoMicron Technology Inc (MU) Q3 2019 Earnings Call Transcript
MU earnings call for the period ending April 30, 2019.
- Bloomberg•6 hours ago
Micron Resumes Some Huawei Shipments Despite Trump Blacklist
(Bloomberg) -- Micron Technology Inc., the largest U.S. maker of computer memory chips, said it resumed some shipments to China’s Huawei Technologies Co., appearing to find a way around an export ban that threatens growth for the semiconductor industry.Micron, which explained the decision Tuesday as it reported earnings, studied the export restrictions and determined “a subset” of products it sells to Huawei are not subject to the rules, Chief Executive Officer Sanjay Mehrotra said on a conference call. That sent stock surging as much as 11% in extended trading.Micron was forced to halt shipments to one of its largest customers after the Trump administration banned Huawei from buying American technology. Micron makes chips used as the main memory in computers and as storage in mobile devices. Sales to the Chinese telecommunications company generate about 13% of Micron’s annual revenue, according to data compiled by Bloomberg.“We began those shipments in the last two weeks,” Mehrotra said. The company completed its own review of the various and complex restrictions on supplying the Chinese company and made its own decision, he said, without providing further specifics.Micron’s announcement helped other chip shares gain. The Boise, Idaho-based company’s stock had been among the most hardest hit this year by concern that a trade war between would cut U.S. companies off from their largest market, China. Mehrotra also said there are signs that demand is increasing as his customers work through their stockpiles of unused parts.Micron may be the first company to go public about continuing some level of business with Huawei after looking closely at the rules, according to Cross Research analyst Steven Fox. Even when companies have headquarters in the U.S., they may be able, through ownership of overseas subsidiaries and operations, to classify their technology as foreign, he said.“It’s one of those things that’s very hard to calculate,” Fox said. “There’s a partial amount of shipments that you should think about, not just with Micron, but with other companies in the supply chain too, as continuing.”Micron and others may be taking advantage of a loophole, according to Kevin Cassidy, an analyst at Stifel Nicolaus & Co. If less than 25% of the technology in a chip originates in the U.S., then it’s not covered by the ban, he said. That could lead to the transfer of patents to overseas entities, something the U.S. government would oppose, he said.Cassidy said he’s concerned that President Donald Trump’s administration might see the resumption of shipments to Huawei as undermining its goal of putting pressure on the Chinese in trade negotiations and take other actions.The U.S. Senate Foreign Relations Committee passed a resolution Tuesday designating Huawei and fellow Chinese equipment maker ZTE Corp. as threats to national security.Mehrotra has been telling investors that a much broader set of customers will help insulate the industry from the brutal downturns that have wiped out profitability in the past. He said that data-center owners, such as Alphabet Inc.’s Google and Amazon.com Inc.’s AWS, who had cut orders as they worked through stockpiles of unused components, are now starting to order again.Earlier, Micron Chief Financial Officer David Zinsner said the company’s revenue will be $4.5 billion, plus or minus $200 million, in the period ending in August. Analysts, on average, projected $4.56 billion. Micron reported sales fell 39% to $4.79 billion in the fiscal third quarter, topping analysts’ estimates of $4.68 billion.Profit, excluding certain items, was $1.05 a share in the period ended May 30. Analysts, on average, estimated 78 cents a share. The company projected adjusted profit of 45 cents a share, plus or minus 7 cents, in the current quarter. Analysts estimated 63 cents a share.Last quarter, the company said it would idle 5% of production for DRAM and NAND memory chips because of weaker demand and reduce its planned capital expenses in the fiscal year to about $9 billion. Micron said Tuesday it intends to “meaningfully” reduce its spending on new plants and equipment in its fiscal year 2020, in order to align increases in supply with demand levels.(Updates with comments from analyst in the sixth paragraph.)To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•6 hours ago
Micron resumes some chip shipments to Huawei, boosting stock
Micron Chief Executive Sanjay Mehrotra said the Idaho-based maker of chips for smartphones and other devices resumed shipping some chips in the past two weeks after it reviewed the U.S. ban on selling products to the China-based telecommunications company. "We determined that we could lawfully resume shipping a subset of current products because they are not subject to export administration regulations and entity list restrictions," Mehrotra said on a conference call with investors. Micron and other chipmakers suspended shipments to Huawei after the U.S. government on May 15 added the world's biggest telecoms equipment maker and 68 affiliates to an "Entity List", banning it from acquiring components and technology from U.S. firms without government approval.
- Investing.com•8 hours ago
Micron Earnings, Revenue Beat in Q3
Investing.com - Micron (NASDAQ:MU) reported third quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
- Barrons.com•8 hours ago
Micron Stock Is Rising Because Its Outlook Is Better Than Feared
The memory chip maker said it had resumed shipments to Chinese telecom equipment maker Huawei Technologies.
- Zacks•8 hours ago
Both FedEx (FDX) and Micron (MU) Beat on Bottom Line (revised)
FedEx (FDX) beat bottom-line estimates by 20 cents per share, while semiconductor major Micron (MU) posted an even bigger beat to $1.05 per share.
- Zacks•9 hours ago
Micron (MU) Q3 Earnings and Revenues Top Estimates
Micron (MU) delivered earnings and revenue surprises of 34.62% and 2.68%, respectively, for the quarter ended May 2019. Do the numbers hold clues to what lies ahead for the stock?
- Zacks•9 hours ago
FedEx (FDX) Beats on Bottom Line, Micron (MU) Misses
FedEx (FDX) beating bottom-line estimates by 20 cents per share, while semiconductor major Micron (MU) missed the Zacks consensus by 4 cents per share.
- MarketWatch•9 hours ago
Micron stock surges on earnings beat, improved forecast for memory-chip market
Micron Technology Inc. shares rise in the extended session Tuesday after the memory-chip maker’s results top lowered expectations for the quarter and executives forecast improvement in the fourth quarter even though actual numbers were shy of Wall Street expectations.
- Investor's Business Daily•9 hours ago
Micron Earnings Crush Estimates As Chipmaker Sees Improving Demand
Memory-chip maker Micron Technology late Tuesday trounced Wall Street's earnings target for its fiscal third quarter. The Micron earnings news drove its stock higher in extended trading.
- TheStreet.com•9 hours ago
Micron Shares Pop Following Earnings Beat
Shares of Micron Technology were up almost 8% Tuesday after-hours after the chipmaker reported quarterly results that topped analyst expectations Micron reported fiscal third quarter revenue of $4.79 billion, down from the $7.
- TheStreet.com•10 hours ago
How to Trade Micron Stock on Earnings
When DRAM and NAND markets have high demand and tight supply, earnings and revenue rip higher. For instance, three years ago, Micron stock was trading for less than $12 per share. While Micron stock is actually up about 6% so far in 2019, it's down more than 40% over the past 12 months.
- Benzinga•10 hours ago
Micron Trades Higher After Big Q3 Earnings Beat
Micron Technology, Inc (NASDAQ: MU ) shares traded higher Tuesday afternoon after reporting a third-quarter earnings beat. View more earnings on MU Third-quarter adjusted earnings came in at $1.05, beating ...
- Reuters•10 hours ago
Micron revenue beats, sees signs of improving demand
- GlobeNewswire•10 hours ago
Micron Technology, Inc. Reports Results for the Third Quarter of Fiscal 2019
BOISE, Idaho, June 25, 2019 -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2019, which ended May 30, 2019. Fiscal Q3 2019.
- MarketWatch•10 hours ago
Micron earnings: Miserable year has cost company billions
What difference has a year made for Micron Technology Inc.? Try a profit shortfall of more than $3 billion.
- TheStreet.com•14 hours ago
The Most Important Thing to Watch in Micron's Earnings Report
What's the most important thing investors should listen to during Micron earnings call Tuesday? Action Alerts PLUS senior analyst Jeff Marks has the answer.
