Micron Technology Inc.'s shares jumped to a multi-year high Monday after two analysts raised their estimates on the chip maker's stock, citing improving prices.

THE SPARK: Jefferies analysts Sundeep Bajikar and Mark Lipacis said that chip prices are up from a slump last year and they expect stable pricing to continue. They increased the price target on Micron stock to $18 from $15.

Citi analyst Glen Yeung said that memory prices are likely to continue to rise. Those improvements, along with the approaching completion of its acquisition of Japanese chipmaker Elpida Memory Inc., should benefit Micron.

THE BIG PICTURE: Micron, based in Boise, Idaho, makes dynamic random access memory items, used often in personal computers, and NAND flash memory products, which are used in digital devices and smartphones.

THE ANALYSIS: The Jefferies analysts said that mobile DRAM products appear to be in short supply, which gives manufacturers an edge in pricing. Additionally, they said that Intel, Microsoft and other PC makers' increased focus on making lower-cost notebooks could stimulate demand for personal computers, which could also benefit Micron.

Citi analyst Glen Yeung said the final hurdle in Micron's proposed merger with Elpida appears to have been crossed Friday as there were no objections in U. S. bankruptcy court to its restructuring plan.

SHARE ACTION: Up 49 cents, or 3.8 percent, to close at $13.25. The stock hit $13.50 earlier in the day, the highest level since 2007.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel