Micron Technology, Inc. - MU STOCK NEWS

Micron Technology, Inc. (Nasdaq: MU) has launched the industry's first automotive low-power DDR5 DRAM (LPDDR5), meeting ASIL D safety standards for advanced driver assistance systems (ADAS). This memory solution enhances performance with a 50% increase in data access speeds and over 20% improvement in power efficiency. Micron's LPDDR5 supports crucial automotive technologies, aiming to facilitate safer and smarter vehicles. The automotive memory market is projected to grow to $6.3 billion by 2024, highlighting the growing demand for such innovations.

Micron Technology, Inc. (Nasdaq: MU) announced the appointment of Linnie Haynesworth to its board of directors on Feb. 16, 2021. Haynesworth brings over 30 years of experience in technology, particularly in aerospace and cybersecurity. Micron's President, Sanjay Mehrotra, highlighted her expertise in complex system development and risk management as a benefit for the company. Haynesworth previously led billion-dollar divisions at Northrop Grumman and holds a degree in electrical engineering from the University of Southern California.

Micron Technology (NASDAQ: MU) is set to participate in key investor events. Executive Vice President Manish Bhatia will engage in a fireside chat at the Goldman Sachs Technology and Internet Conference on Feb. 11, starting at 6:50 a.m. Mountain time. Chief Financial Officer David Zinsner will also participate in a fireside chat at the Morgan Stanley Technology, Media, and Telecom Conference on Mar. 3, at 9:45 a.m. Mountain time. Both events will be webcast live, with replays available on Micron's Investor Relations website.

Micron Technology, Inc. (Nasdaq: MU) has joined The Valuable 500, a global initiative aimed at promoting disability inclusion in the workplace. This makes Micron one of the first semiconductor companies to prioritize the rights of individuals with disabilities in its board agenda. The company's diversity, equality, and inclusion (DEI) efforts include initiatives for equitable pay, racial and LGBTQ+ equality, and inclusive hiring practices. Furthermore, Micron enhances its supplier diversity program by collaborating with organizations supporting minority and woman-owned businesses.

Micron Technology has achieved a significant milestone by announcing the volume shipment of its 1α node DRAM products, showcasing advancements in bit density, power, and performance. This new technology boasts a 40% increase in memory density compared to the previous generation and is set to enhance applications across mobile devices, smart vehicles, and more. Micron's 1α DRAM technology is designed to support low-power mobile DRAM, enabling up to 15% power savings. Production has begun in Taiwan, starting with DDR4 memory, with further products expected in 2021.

Micron Technology reported fiscal Q1 2021 results with revenue of $5.77 billion, down from $6.06 billion in the previous quarter and up from $5.14 billion a year ago. GAAP net income was $803 million, or $0.71 per share. Non-GAAP net income was $897 million, or $0.78 per share. Operating cash flow totaled $1.97 billion. The company anticipates Q2 revenue of $5.8 billion, with a gross margin of 25% and diluted EPS of $0.41. Micron is positioned to benefit from trends in AI, 5G, and the intelligent edge, marking a historic leadership in both DRAM and NAND technologies.

Micron Technology, Inc. (Nasdaq: MU) will host its fiscal Q1 earnings conference call on January 7, 2021, at 2:30 PM MT. This call will be accessible via a live webcast on Micron’s Investor Relations site. Additionally, Executive Vice President Sumit Sadana will participate in a fireside chat at the J.P. Morgan CES 2021 Virtual Forum on January 12, 2021, at 9:25 AM MT. The presentations will also be available for replay for approximately one year on the Investor Relations website.

Micron Technology (Nasdaq: MU) has revised its guidance for Q1 fiscal 2021, ending December 3, 2020, indicating an increase in revenue, gross margin, and EPS expectations. The updated revenue forecast is between $5.70 billion - $5.75 billion, up from the earlier estimate of $5.0 billion - $5.4 billion. Gross margin expectations have also improved to 29.5% - 30.5% compared to 25.5% - 27.5%. The diluted EPS guidance has been adjusted to $0.69 - $0.73, an upgrade from $0.32 - $0.46.

Micron Technology has commenced volume shipments of its innovative 176-layer 3D NAND flash memory, marking a significant leap in storage density and performance. This new technology features a layer count nearly 40% higher than competitors, leading to over a 35% reduction in read and write latency. The compact design, with a die size 30% smaller than that of best-in-class offerings, makes it suitable for various applications, including mobile, automotive, and data center SSDs. Micron aims to capitalize on growth opportunities in 5G, AI, and cloud computing through this breakthrough.