Form 8-K MICRON TECHNOLOGY INC For: Sep 08

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Go back to Form 8-K MICRON TECHNOLOGY INC For: Sep 08

Cowen Positive on Micron's (MU) Amended 3D NAND Supply Agreement with Intel (INTC); Would Aggressively Buy

September 9, 2015 6:56 AM EDT

Cowen and Company affirms Micron Tech (Nasdaq: MU) with an Outperform rating and $28 price target following news that the company and Intel entered an amended supply agreement.

Analyst Tim Arcuri noted that the amended agreement provides for a guaranteed margin to Micron on 3D NAND flash memory sold to Intel. The analyst sees the agreement potentially providing about $0.15 of EPS... More

Micron Technology (MU), Intel (INTC) Enter Amended Supply Agreement

September 9, 2015 6:51 AM EDT

On September 1, 2015, Micron Technology (Nasdaq: MU) (MTI), Micron Semiconductor Asia Pte. Ltd., a wholly owned subsidiary of MTI (MSA and, together with MTI, collectively, Micron), and Intel Corporation (Nasdaq: INTC) (Intel) entered into a (1) supply agreement (the Amended and Restated Supply Agreement) that amends and restates the existing supply agreement, dated as of January 31, 2014, among MTI, MSA and Intel (the Existing Supply Agreement), (2) new supply agreement (the Supplemental Supply Agreement) that supplements the supply under the Amended and Restated Supply Agreement, and (3) new supply... More