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MU - Micron Technology - Page 10

post #181 of 199
2/11/12 at 2:52am

Caught up with other stuff this week and missed my short target on MU.  Oh well.  Hit the 100 DMA on the weekly to the penny and pulled back nicely.

 

mu.png

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post #182 of 199
2/27/12 at 11:44am

I think I'm getting in love with MU!!!  

 

MU.jpg

 

This fluctuation is GREAT!  

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post #183 of 199
2/27/12 at 7:20pm

Aha,so heres the reason for the 8.79 spike today on very close to 60 million in volume. The demise of one company is Microns silver lining.

 

 

2nd UPDATE: Elpida Files For Bankruptcy Protection, Biggest Manufacturing Failure In Post-War Japan

Last update: 2/27/2012 10:03:43 AM
-- Indebted DRAM-maker Elpida Memory files for bankruptcy protection
-- Firm's liabilities totaled Y448.03 billion at end of March 2011
-- Largest corporate failure among manufacturers in post-war Japan
(Recasts throughout.)
 
  By Juro Osawa and Shawn Schroter 
  Of DOW JONES NEWSWIRES
TOKYO (Dow Jones)--Knocked out of its already precarious position by the strong yen, chipmaker Elpida Memory Inc. (6665.TO) Monday filed for bankruptcy protection, in the largest corporate failure among the nation's manufacturers since the end of World War II.
The move came after last-ditch attempts to refinance its debts failed to materialize. Elpida said its liabilities totaled Y448.03 billion, or $5.5 billion, at the end of March 2011.
The demise of Japan's last maker of dynamic random access memory, or DRAM, chips is a sign of the dismal road ahead for the country's beleaguered technology industry. Already struggling to compete against cost-efficient, deep-pocketed South Korean rivals, Japanese electronics makers have seen their profits dragged down by the yen's historic appreciation.
Elpida said that it will aim to reemerge under the supervision of the Tokyo District Court and a team of lawyers, while President Yukio Sakamoto will stay on and work on the rehabilitation process.
DRAM chips are widely used in personal computers to store data, while smartphones and tablet computers also use them. Japanese companies pioneered the technology and dominated the market in the 1980s when PCs were starting to emerge, but low-cost competitors from South Korea and Taiwan rapidly expanded as the market for PCs grew by leaps and bounds in the 1990s.
Elpida, which was created in 1999 after two technology firms merged their DRAM operations in a bid stay competitive, got its name from "elpis" - a Greek mythological spirit meaning "hope" - as well as D for "dynamic" and A for "association."
After the chip industry was hit hard by the financial crisis, Elpida tried to lean toward the high end of the market by focusing on DRAM chips for smartphones and moved its production of lower-margin products for PCs to its Taiwanese subsidiary, but the company was still unable to make money with overseas sales eroded by the strong yen.
At a press conference, Sakamoto blamed the yen's rise to unprecedented levels as a major factor behind his company's failure.
"We never imagined the yen would become this strong," he said.
Prior to Elpida's bankruptcy filing, people familiar with the matter said the company was mulling a strategic alliance with U.S.-based rival Micron Technology Inc. as a step to secure support from its creditors. But Micron's former Chief Executive Steve Appleton, who was a strong advocate of industry consolidation, unexpectedly died in a plane crash in early February. Micron declined to comment.
"We received offers (for help) from potential partners, but they never materialized in a concrete form," Sakamoto said.
As of last September, Elpida and Micron were tied as the world's third-largest DRAM maker with each holding 12.1% of the market, based on data from market research firm IHS iSuppli Corp. Samsung Electronics Co. (005930.SE) of South Korea led the market with a 45% share, followed by another South Korean player Hynix Semiconductor Inc. with 21.5%.
Elpida's demise also casts a long shadow over its rivals elsewhere in Asia, as many of them are unprofitable and struggling to survive in a fiercely competitive market plagued by overcapacity and steep price declines.
Analysts say Taiwanese DRAM makers are particularly vulnerable as they haven't diversified much into chips for smartphones and tablet computers. According to data from U.S. research firm iSuppli for the third quarter of 2011, Taiwanese DRAM chip suppliers Nanya Technology and Winbond had market shares of just 3.6% and 1.6% respectively.
Elpida has a joint venture with Taiwan-based Powerchip Semiconductor Corp. called Rexchip Electronics Corp. and it remains unclear how the Japanese firm's failure will affect their venture. Representatives at Powerchip and Rexchip couldn't immediately be reached for comment on Monday.
Describing Elpida's failure at a press conference Monday, Japan's trade and industry minister Yukio Edano called it "regrettable, but inevitable."
He also defended a previous government decision to give financial assistance to Elpida. In 2009, the chipmaker received around Y30 billion in investment from the state-backed Development Bank of Japan through an emergency government aid program.
The Tokyo bourse said it would delist Elpida's shares on March 28.
-By Juro Osawa and Shawn Schroter, Dow Jones Newswires; 813 6269 2794; juro.osawa@dowjones.com
--Andrew Joyce, Alex Martin and Daisuke Wakabayashi contributed to this report.
(END) Dow Jones Newswires
February 27, 2012 10:03 ET (15:03 GMT)
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post #184 of 199
3/8/12 at 11:32am

MU demand nears all time record after rival files BK.

 

Keep it on your streamers.

 

gl and God Bless.

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post #185 of 199
3/12/12 at 11:55am

It's running again and as I said before "FLIP IT."

gla

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post #186 of 199
3/26/12 at 8:51am

This one is for you Bob as I know you like to short this.  :-)

 

Oppenheimer downgrades MU from outperform to perform but removes price target. So what does that mean? Dropping coverage on the stock? Expecting it to go to zero? confused.gif

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post #187 of 199
3/26/12 at 9:20am
Quote:
Originally Posted by trade2getrich View Post

This one is for you Bob as I know you like to short this.  :-)

 

Oppenheimer downgrades MU from outperform to perform but removes price target. So what does that mean? Dropping coverage on the stock? Expecting it to go to zero? confused.gif

 

I dunno. Guess I'll pick up some puts later. Thanks for the post or I wouldn't have noticed.
 

 

 

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post #188 of 199
3/27/12 at 12:12pm

Go long MU - MASSIVE CALL BUYING / Lands deal with INTC.

 

In its post-earnings conference call, Micron's CFO told investors that Micron has a set profit margin "built into the [multi-year wafer supply] agreement" it's signed with Intel (Nasdaq: INTC ) . Micron didn't elaborate on exactly how much these wafers will cost Intel, or how profitable the contract will be for Micron -- but any profit at all would seem to be an improvement.

Meanwhile, Micron said it returned to cash profitability, at least, in Q2, generating positive free cash flow of $145 million. If we run-rate that number out through the next 12 months, it suggests that $580 million in positive annual FCF is a possibility, producing perhaps a 14 FCF valuation on the stock. At that level of profitability, Micron might eventually become worth buying. Then again, rival SanDisk (Nasdaq: SNDK

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post #189 of 199
4/15/12 at 2:37pm
Micron Announces Pricing of Convertible Senior Notes Offerings
2 days 6 hours 36 minutes ago - GlobeNewswire via Comtex


Micron Technology, Inc. (Nasdaq:MU) today announced the pricing of an offering of $480.0 million aggregate principal amount of its 2.375% convertible senior notes due 2032 (the "2032C Notes") and $390.0 million aggregate principal amount of its 3.125% convertible senior notes due 2032 (the "2032D Notes" and, together with the 2032C Notes, the "Notes"). The Notes are being offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Micron has granted the initial purchasers an option to purchase up to an additional $70.0 million aggregate principal amount of 2032C Notes and up to an additional $60.0 million aggregate principal amount of 2032D Notes on the same terms and conditions to cover over-allotments, if any. Interest on the 2032C Notes will be paid semi-annually at a rate of 2.375% per year and will mature on May 1, 2032, unless earlier repurchased, redeemed or converted. Interest on the 2032D Notes will be paid semi-annually at a rate of 3.125% per year and will mature on May 1, 2032, unless earlier repurchased, redeemed or converted.

Holders may require Micron to repurchase the 2032C Notes for cash on May 1, 2019 and the 2032D Notes for cash on May 1, 2021, in each case at a purchase price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding the repurchase date. In addition, holders may require Micron to repurchase their Notes upon a change of control or a termination of trading at a purchase price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding the repurchase date.

Each series of Notes will be convertible, subject to the satisfaction of certain conditions, into cash or shares of Micron common stock or a combination thereof, at Micron's election. The initial conversion rate per $1,000 principal amount of 2032C Notes is equivalent to 103.8907 shares of common stock, which is equivalent to a conversion price of approximately $9.63 per share of common stock, subject to adjustment in certain circumstances. This initial conversion price represents a premium of 35% relative to the last reported sale price on April 12, 2012 of Micron's common stock of $7.13. The initial conversion rate per $1,000 principal amount of 2032D Notes is equivalent to 100.1803 shares of common stock, which is equivalent to a conversion price of approximately $9.98 per share of common stock, subject to adjustment in certain circumstances. This initial conversion price represents a premium of 40% relative to the last reported sale price on April 12, 2012 of Micron's common stock of $7.13.

On or after May 1, 2016, in the case of the 2032C Notes, and on or after May 1, 2017, in the case of the 2032D Notes, Micron may redeem for cash all or part of the Notes if the volume weighted average price of its common stock has been at least 130% of the conversion price then in effect for such series of Notes for at least 20 trading days during any 30 consecutive trading day period ending within five trading days prior to the date on which Micron provides notice of redemption. The redemption price will equal the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If Micron redeems the Notes prior to May 4, 2019, in the case of the 2032C Notes, or prior to May 4, 2021, in the case of the 2032D Notes, it will make a "make-whole premium" payment in cash equal to the present value of all remaining scheduled payments of interest that would have been made on the Notes to be redeemed had such Notes remained outstanding from the redemption date to May 4, 2019, in the case of the 2032C Notes, or to May 4, 2021, in the case of the 2032D Notes. Holders who convert Notes in connection with such redemption will also be entitled to such make-whole premium payment. On or after May 4, 2019, in the case of the 2032C Notes, and on or after May 4, 2021, in the case of the 2032D Notes, Micron may redeem for cash all or part of the Notes at a redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon.

The offering is expected to close on April 18, 2012, subject to customary closing conditions.

In connection with the offering of the Notes, Micron entered into capped call transactions relating to shares of Micron common stock with a number of counterparties. The capped call transactions are expected to reduce the potential dilution upon conversion of the Notes. The capped call transactions relating to the 2032C Notes have a lower strike price of $9.80 and capped prices ranging from $14.26 to $15.69, which are 100% to 120% higher than the closing price of Micron's common stock on April 12, 2012. The capped call transactions relating to the 2032D Notes have a lower strike price of $10.16 and capped prices ranging from $14.62 to $16.04, which are 105% to 125% higher than the closing price of Micron's common stock on April 12, 2012. In connection with establishing their initial hedge of these capped call transactions, Micron expects that the counterparties will enter into various over-the-counter derivative transactions with respect to Micron's common stock concurrently with, or shortly after, the pricing of the Notes and may unwind or enter into various over-the-counter derivatives and/or purchase Micron's common stock in secondary market transactions after the pricing of the Notes. These activities could have the effect of increasing or preventing a decline in the price of Micron's common stock concurrently with or following the pricing of the Notes. In addition, the counterparties may modify or unwind their hedge positions by entering into or unwinding various derivative transactions and/or purchasing or selling Micron's common stock in secondary market transactions prior to maturity of the Notes (and are likely to do so on each exercise date of the capped call transactions).

The aggregate net proceeds to Micron from the offering of the Notes will be approximately $852 million, exclusive of any proceeds attributable to the initial purchasers' possible exercise of their over-allotment options. Micron intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions. Micron estimates the cost of the capped call transactions to be approximately $89 million, exclusive of the cost of additional capped call transactions with respect to the initial purchasers' possible exercise of their over-allotment option with respect to the Notes. Micron expects to use the balance of the net proceeds for general corporate purposes, which may include capital expenditures, working capital, strategic acquisitions, joint ventures and other investments and repayment of other indebtedness.
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post #190 of 199
4/15/12 at 2:38pm
&P Lowers Outlook On Micron Due To Higher Leverage
2 days 22 hours 31 minutes ago - Dow Jones News

DOW JONES NEWSWIRES
Standard & Poor's Ratings Services lowered its outlook on Micron Technology Inc. (MU) to negative from stable, citing the chip maker's increased leverage, as well as soft memory-market conditions.
S&P currently rates the company at double-B-minus, three notches below investment grade.
Micron's earnings have continued to slide amid a drop in prices for DRAM--a key component in personal computers. But there are hopes the chip sector is recovering and the memory industry will see a boost from the bankruptcy filing of Japanese DRAM memory maker Elpida Memory Inc. (6665.TO). In addition, there is speculation that Micron may be interested in buying its struggling rival.
Micron recently said it will issue about $1 billion new senior convertible notes due in 2032, using the proceeds for general corporate needs, such as capital expenditures, working capital and acquisitions.
S&P said higher leverage and potential acquisition spending, along with the weak memory market, precipitated its outlook action.
It said it could revise Micron's outlook to stable if acquisition spending didn't materially increase borrowing, and revenue and earnings performance stabilizes.
Micron last month said it swung to its third consecutive loss in its fiscal second quarter, as weaker selling prices for memory chips continued to challenge the semiconductor company's top and bottom lines.
Shares were down 2 cents at $7.15 just before the market close. The stock is up 14% so far in 2012.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com
(END) Dow Jones Newswires
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post #191 of 199
4/15/12 at 2:38pm
been a nice short for a few weeks


425
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post #192 of 199
5/2/12 at 1:08pm

Micron pullback an opportunity ahead of Elpida bidding  at theflyonthewall.com(Wed 9:19AM EDT)

 

It's starting to move,I'v been in RIMM all day and missed this PR from MU!

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post #193 of 199
5/14/12 at 9:27am

MU dropping PM. Maybe I can make a little money on my 6 puts. banana.gif

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post #194 of 199
6/7/12 at 1:51pm

       NEW YORK, NY -- (Marketwire) -- 06/07/12 -- After an impressive first quarter semiconductor stocks have slumped as a result of growing concerns of a global economic crisis. SPDR S&P Semiconductor ETF (XSD), which seeks to closely match the returns and characteristics of the S&P Semiconductor Select Industry Index, has fallen nearly 15 percent in the last 3 months. Five Star Equities examines the outlook for companies in the Semiconductor Industry and provides equity research on Micron Technology, Inc. (NASDAQ: MU) and SanDisk Corporation (NASDAQ: SNDK).     

 

 

       The Semiconductor Industry Association (SIA) recently announced that global semiconductor sales for the month of April increased 3.4 percent to $24.1 billion. The growth was in April was the largest month-over-month increase since May 2010, and the first time sales topped $24 billion in 2012.

"The outlook for the global semiconductor industry continues to be one of cautious optimism," said Brian Toohey, president & CEO, Semiconductor Industry Association. "We are beginning to see an encouraging trend of modest, sequential growth and we anticipate this trend will continue during the rest of this year, with stronger growth predicted for 2013 and beyond. But that optimism continues to be tempered by macroeconomic factors."     

 

 

       Micron Technology is one of the world's leading providers of advanced semiconductor solutions. The company last month announced development of its first fully functional DDR4 DRAM module. The company has begun sampling and has received feedback from major customers to support quick implementation for applications in 2013.

 

SanDisk Corporation, a global leader in flash memory storage solutions, today announced it is using the world's most advanced semiconductor manufacturing process to produce SanDisk's highest-performing embedded memory products. iNAND Extreme is now being built on SanDisk's 19 nanometer process technology to enable the large-capacity, high-performance embedded NAND flash memory products that are ideally suited for high-end tablets and smartphones.     

 

It might be the time to start looking at MU once again.

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post #195 of 199
7/13/12 at 11:38am

Just out of curiosity, is anybody buying any on this dip?

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post #196 of 199
3/22/13 at 9:19am

Micron posts its 7th straight quarter loss,yet,its price is up 8 percent in pre-market trading,currently  9.80. There are also about 5 different upgrade this morning ranging from 9 to 15.

 

 

http://finance.yahoo.com/news/micron-posts-2q-loss-view-120830720.html

 

 

 

623,559 shares were just bought at 9.75


Edited by trade2getrich - 3/22/13 at 9:34am
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post #197 of 199
3/22/13 at 10:39am
Quote:
Originally Posted by Matrix2055 View Post

Just out of curiosity, is anybody buying any on this dip?

Yet its up a $1 and hitting 52 week highs?

 

OH I see why now

I'm not holding any rotfl.gif

 

Let me buy it and everyone can buy puts guarantee yu

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post #198 of 199
3/22/13 at 4:45pm

was so gonna play earnings but completely forgot about em. 

 

been pretty upset all day as a result.  missd out on some big bucks.

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post #199 of 199
3/22/13 at 9:34pm
Quote:
Originally Posted by kirk1701 View Post

Yet its up a $1 and hitting 52 week highs?

 

OH I see why now

I'm not holding any rotfl.gif

 

Let me buy it and everyone can buy puts guarantee yu

 

 

The post you referring to is from last year, July.  From that time till now, the price almost doubled ;) 

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