Micron Technology (MU) to Acquire Remaining Inotera Memories Shares in $3.2B Deal
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Micron's (MU) Inotera Deal is an Expensive Use of Equity - Needham & Company
December 15, 2015 7:46 AM ESTNeedham & Company analyst, Rajvindra Gill, is questioning why Micron (NYSE: MU) would use equity to pay for a transaction that seems to only offer accounting benefits when the stock is trading near 3 year lows. Considering that DRAM ASPs have declined for each of the last 3 quarters, the upside appears limited. No change to Hold rating.
Micron announced an agreement to acquire Inoteras remaining shares for NT$30 per share, or a 30% premium to yesterdays close of NT$23. Micron... More
Micron Technology (MU) to Report 1Q on 12/22; Mizuho Securities Remains Neutral
December 15, 2015 6:53 AM ESTMizuho Securities maintained a Neutral rating on Micron Technology (NASDAQ: MU), and cut the price target to $15.00 (from $18.00), ahead of the company's 1Q earnings report. MU will report its Q1 results (Nov) on Dec 22 after the market close. While MU announced a key Inotera... More
Benefits of Micron's (MU) Deal to Acquire Remaining Stake in Inotera Seen as Slightly Puzzling, Says Analyst
December 14, 2015 11:14 AM ESTDeutsche Bank maintained a Buy rating on Micron Technology (NASDAQ: MU) with a price target of $20. Earlier Micron said it will acquire the remaining shares of Inotera in a deal valued at $3.2 billion. Micron had owned 33% of the company.
Commenting the development, analyst Sidney Ho said, "While the transaction will... More
