Dallas, Texas 09/23/2013 (Financialstrend) – Global manufacturer and marketer of semiconductor devices, Micron Technology, Inc. (NASDAQ:MU)’s portfolio includes NAND Flash, DRAM, NOR Flash and other memory technologies, packaging solutions and semiconductor systems. Its manufacturing facilities are sprawled across the United States, Puerto Rico, China, Israel, Italy, Malaysia and Singapore.
The 52 week price range for the company’s stock is between $5.16 and $17.59. The stock marked its new 52 week high at $17.59 on Thursday, September 19, 2013. Micron Technology, Inc. (NASDAQ:MU) has market capitalization of $17.83 billion and the stock trades with average volume of 41.86 million shares. The stock has delivered almost 180% returns year to date and has continued its uptrend throughout the year. The stock price has increased more than 25% during last one month.
Analysts at Wedbush Securities upgraded the price target for the company’s stock from $16 to $23 on Friday, September 20, 2013. The upgrade was most likely given in response to the decision to hald the helium reservoir shutdown in Texas and sound financial position besides other factors favoring the stock.
Another happening that could turn out to be in favor of the company involves accidental fire at the Wuxi (China) Plant of SK Hynix Inc. (KRX:000660) – a Korea-based manufacture of semiconductors. In light of speculation about the restoration work at the plant which may take several months and given the fact that the plant was catering to global supplies of around 12% of DRAM; Micron Technology, Inc. (NASDAQ:MU) seems to be well positioned to take advantage of the situation given its sound leverage to DRAM. For the quarter ended May 2013 (2Q13) Micron Technology, Inc. (NASDAQ:MU) reported that DRAM accounts for more than 45% of its annualized revenue.
The company has also been assigned a patent for SSL (solid state lighting) devices last week, invented by Vladimir Odnoblyudov. The patent was filed on January 28, 2011 and has been granted for SSL devices with reduced dimensions and methods of manufacturing.
The company also announced the launch of Replay Protected Monotonic Counter technology for SPI NOR flash memory devices that would enable cost effective and immediate solution for the Ultrabook platform.