Micron Technology, Inc. (NASDAQ:MU), announced its newest embedded SLC NAND Flash optimized for the next generation of Internet of Things (IoT) and automotive applications. Available with differing interfaces to accommodate design, Micron’s second generation Serial (SPI) NAND and fifth generation parallel SLC NAND, offers the industry’s best-in-class reliability1 and read and program performance, ease of design and advanced security features.
Gartner projects that the IoT endpoint hardware and services market will rise to a $3.5 trillion industry by 20202. As system designers seek embedded solutions to power the performance for the connected home, wearables and the connected car, the technical demands have raised the bar for the security and seamlessness for ingredient semiconductor suppliers. Micron’s newest SLC NAND addresses these needs for high-performance storage technology to propel the market forward.
“Micron works closely with chipset partners and customers within the ecosystem to design tomorrow’s products that meet the complex NAND requirements fueled by IoT and automotive,” said Aravind Ramamoorthy, product line director of NAND flash for Micron’s Embedded Business Unit. “The new SLC NAND Flash technology enable a new category of embedded applications that need reliable, high-performance, low pin count and secure4 memory for code and low density data storage.”
In order to simplify system design and speed time-to-market, Micron has engaged with leading semiconductor and system designers, to ensure that Micron’s newest NAND Flash exceeds the data storage and memory needs for up-and-coming products.
Ecosystem Enablement for Partner Innovation
“Broadcom is committed to bringing the best features and cutting edge technologies to our customers. We are delighted to see Micron launch Serial NAND product offerings which provide our customers with a new cost-effective option for high-density non-volatile memory,” said Dr. John Liberati, associate technical director, Broadcom Corporation.
“Design teams can reduce their time-to-market, design effort, and risk for automotive and IoT SoC designs by utilizing Cadence’s proven Quad SPI controller and PHY IPsolutions with Micron’s latest SPI NAND devices,” said Hugh Durdan, vice president of product marketing for design IP at Cadence. “Cadence and Micron have a long history of collaboration to provide customers with solutions for emerging memory interface standards. The increased density of SPI NAND devices is appealing to our mutual customers who need the faster data access speeds and lower power consumption of NAND Flash interfaces enabled by the Quad SPI standard.” (Original Source)
Shares of Micron closed yesterday at $11.73, down $0.18 or -1.51%. MU has a 1-year high of $20.57 and a 1-year low of $9.31. The stock’s 50-day moving average is $12.29 and its 200-day moving average is $11.47.
On the ratings front, Micron has been the subject of a number of recent research reports. In a report issued on July 5, MKM Partners analyst Ian Ing reiterated a Buy rating on MU. Separately, on the same day, Nomura’s Romit Shah reiterated a Buy rating on the stock and has a price target of $16.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ian Ing and Romit Shah have a total average return of 13% and 7% respectively. Ing has a success rate of 62.4% and is ranked #210 out of 4013 analysts, while Shah has a success rate of 55.3% and is ranked #386.
The street is mostly Bullish on MU stock. Out of 23 analysts who cover the stock, 18 suggest a Buy rating , 3 suggest a Hold and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $15.31, which represents a potential upside of 30.5% from where the stock is currently trading.
Micron Technology, Inc. provides semiconductor solutions. It manufactures and distributes semiconductor solutions. It manufactures and markets DRAM, NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products. The company operates through four segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU).