A micro-view at Micron Technology, Inc (NASDAQ:MU)
Micron Technology, Inc (NASDAQ:MU)’s Elpida 100 equity acquisition is expected to close on 31 July 2013. A sponsor agreement was actioned on 2 July. Post closing of this transaction, the final approval will come from the District Court in Tokyo. The company will be closing the 24% share acquisition of Rexchip Electronics Corporation as well as that of some other companies.
There has been an overall drop in the demand for NAND flash memory drives which has impacted Micron’s performance. The last quarter saw a major drop in smartphone sales and NAND Flash memory orders dropped too.
Addition to the board
MU recently announced that Warren East has been appointed to its Board of Directors. Prior to this, he was the Chie Executive officer of ARM Holdings PLC. The company has not been on a health trip over the last several days but bullish speculation over its stock continues. The number of calls regarding the company has increased. This is an indication that the MU share prices will rise in the near future.
Micron Technology, Inc (NASDAQ:MU) rose by 1.04% in Tuesday’s trading session. The opening price of the share was $12.50 which reached an intraday high of $12.69 and closed at $12.31. Around 48.77 million shares were sold in yesterday’s trading session. The average volume of shares traded over a 30-day period was 48.88 million.
Micron Technology, Inc (NASDAQ:MU) is a company that offers advanced semi-conductor solutions and operates on a global level. It manufactures and markets a vast range of NAND, DRAM as well as NOR flash memory. In addition, the company provides various innovative semiconductor solutions, memory technologies and packaging-systems that can be used by customers. Apart from this, Micron Technologies manufactures various semi-conductor components for different semiconductor products like imaging sensors. The company has manufacturing facilities in the U.S, Israel, China, Malaysia, Italy, Singapore and Puerto Rico.