Inspur will start to integrate Micron's components into its 2U rack products in early 2015. The components will "deliver high-performance, power-efficient servers targeted at cloud data centers and high-performance computing applications," according to the press release.
"The industry-wide need for greater memory density due to virtualization and data intensive workloads was the catalyst for Micron's development of this product," said Robert Feurle, vice president of compute and networking marketing at Micron, in the statement. "We work closely with our partners to meet market needs and are committed to offering leading-edge solutions that support their end users' technical and business requirements."
The stock was up 1.85% to $33 at 11:19 a.m.
Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- MU's very impressive revenue growth greatly exceeded the industry average of 9.0%. Since the same quarter one year prior, revenues leaped by 71.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Powered by its strong earnings growth of 1600.00% and other important driving factors, this stock has surged by 109.44% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MU should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- MICRON TECHNOLOGY INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, MICRON TECHNOLOGY INC turned its bottom line around by earning $1.00 versus -$1.04 in the prior year. This year, the market expects an improvement in earnings ($3.21 versus $1.00).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 1774.4% when compared to the same quarter one year prior, rising from $43.00 million to $806.00 million.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, MICRON TECHNOLOGY INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
- You can view the full analysis from the report here: MU Ratings Report
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