Micron Technology (MU) Stock Jumps, Releases New NAND Chip

Shares of Micron Technology (MU) are higher on Thursday morning after the company launched its new SLC NAND Flash today.
By Lindsay Rittenhouse ,

NEW YORK (TheStreet) -- Shares of Micron Technology (MU) - Get Report are up 5.97% to $12.43 late Thursday morning after the semiconductor systems developer announced the release of its SLC NAND Flash for the next generation of Internet of Things (IoT).

NAND Flash memory chips are a type of storage technology which requires zero power to retain data. IoT is a connectivity network that enables various objects to collect and exchange data with each other.

The latest NAND Flash aims to "propel" the IoT market forward with features such as "optimal, 10-year uncycled data retention, on-die error correction code (ECC) supported for both NAND and SPI interfaces and advanced security features (which) include permanent block locking and one time programmable data (OTP) capability," Micron stated.

"Micron works closely with chip-set partners and customers to design tomorrow's products that meet the complex NAND requirements fueled by IoT and automotive. The new NAND Flash enables a category of embedded applications that need reliable, high-performance, low pin count and secure memory," Micron's Aravind Ramamoorthy, product line director of NAND flash, said in a statement.

Separately, TheStreet Ratings rated Micron Technology as a "hold" with a score of C.

The primary factors that have impacted this rating are mixed. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated.

At the same time, however, TheStreet Ratings also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: MU

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

Loading ...