Boston, MA 02/04/2014 (wallstreetpr) – Micron Technology, Inc. (NASDAQ:MU) plans to launch senior notes worth $500 million subject to market and other considerations that will be due in 2022. The interest rates redemption provision and other terms of the notes are expected to be determined after the completion of negotiations between Micron and the purchasers. The proceeds from the notes that are due in 2022 will be used to pay for costs that were incurred in its senior notes that are due in 2014. The payments may include settlements for the conversions or for the repurchase of the 2014 notes. The announcement does not constitute any offer for sell or solicitation for an offer for the purchase of any of the foregoing securities.
Micron technology given a buy rating
Micron Technology, Inc. (NASDAQ:MU) has it stocks given the buy rating with a score of B in the market by equities researchers at TheStreet. This shows how strong the company’s strong are in the market thus gaining the full confidence of analysts. The buy rating was necessitated by the robust growth of the company in terms of revenue growth and solid stock price performance. Impressive record of earnings per share has essentially propelled the growth in net income with favorable return on equity.
Micron Technology in numbers
Micron Technology, Inc. (NASDAQ:MU) posted quarter earnings that saw its total revenue stand at the $4.04 billion mark beating consensus estimates of $3.72 billion. The company revenue for the quarter was up by 120% on year over year basis with analysts pointing out that the company is in line to post earnings per share for the current fiscal year of $2.14. Micron is slowly but wiping out its debt in the market moving from DRAM-dependent commodity business to DRAM and flash.
