Micron's (MU) Inotera Acquisition Likely to Help Close Tech Gap vs. Samsung - Cowen

Micron's (MU) Inotera Deal is an Expensive Use of Equity - Needham & Company

Needham & 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

Mizuho 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

Deutsche 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

Moody's Affirms Ratings on Micron Technology (MU) Amid Inotera Memories M&A Deal

Moody's Investors Service ("Moody's") affirmed Micron Technology Inc.'s (Nasdaq: MU) ("Micron") ratings, including the Ba2 Corporate Family Rating ("CFR"), the Ba2-PD Probability of Default Rating ("PDR"), the Ba3 Senior Unsecured rating, and the SGL-2 Speculative Grade Liquidity ("SGL") rating. This follows Micron's announced plan to acquire the 67% of Inotera Memories, Inc. ("Inotera") that Micron does not currently own for about $4 billion, funded with about $2.5 billion of new debt, up to $1 billion of Micron shares, and about $500 million of balance sheet cash. The outlook is stable.

RATINGS RATIONALE

Micron's Ba2 corporate family... More