Slides Deck Introducing Micron
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Trabajo De Graduación: Valuación De Micron Technology Inc. Autor: Nicolas Vallejos DNI: 40127617 Director De Tesis: Ignacio Warnes Buenos Aires, El 11 De Mayo 2021
Universidad de San Andrés Universidad de San Andrés Escuela de Administración y Negocios Magister en Finanzas Trabajo de Graduación: Valuación de Micron Technology Inc. Autor: Nicolas Vallejos DNI: 40127617 Director de tesis: Ignacio Warnes Buenos Aires, el 11 de mayo 2021 1 Universidad de San Andrés Contenido Micron Technology 4 1. La industria de semiconductores: 8 1.1 El plan “made in China.” 9 2. Mercado de DRAM y NAND: 11 2.1 DRAM: 13 2.1.1. El mercado DRAM 13 2.1.2. Una Consolidación del mercado 16 2.1.3 Clases de DRAM: 19 2.2 NAND: 20 2.2.1. El mercado NAND 21 2.2.2. Una Consolidación del mercado 23 2.2.3. Tipos de NAND: 24 3. Análisis macroeconómico: 25 3.1 Estados Unidos: 25 3.2 Europa: 26 3.3 China: 28 4. Análisis financiero 28 4.1 Ratios de crecimiento: 28 4.2 Ratios de deuda: 35 4.3 Análisis de Dupont 35 4.4 Márgenes de Micron 37 4.5 Ratios de eficiencia: 38 5. Capex e I+D: 39 6. Manufactura: 42 7. Adquisiciones: 44 8. Patentes 45 9. Valuación por flujos descontados 46 9.1 Proyección de mercados 46 9.1.1 Mercado DRAM y NAND 46 9.1.2 Proyección cuotas de mercado Micron en DRAM 56 9.1.3 Proyección cuotas de mercado Micron en NAND 58 2 Universidad de San Andrés 9.2 Proyección inversión y desarrollo 61 9.3 Proyección de CAPEX 61 9.4. Estimación costo de los bienes vendidos 62 9.5 Estimación de depreciación y amortización 63 9.6. -
PART I ITEM 1. BUSINESS Industry We Are
PART I ITEM 1. BUSINESS Industry We are the world’s largest semiconductor chip maker, based on revenue. We develop advanced integrated digital technology products, primarily integrated circuits, for industries such as computing and communications. Integrated circuits are semiconductor chips etched with interconnected electronic switches. We also develop platforms, which we define as integrated suites of digital computing technologies that are designed and configured to work together to provide an optimized user computing solution compared to ingredients that are used separately. Our goal is to be the preeminent provider of semiconductor chips and platforms for the worldwide digital economy. We offer products at various levels of integration, allowing our customers flexibility to create advanced computing and communications systems and products. We were incorporated in California in 1968 and reincorporated in Delaware in 1989. Our Internet address is www.intel.com. On this web site, we publish voluntary reports, which we update annually, outlining our performance with respect to corporate responsibility, including environmental, health, and safety compliance. On our Investor Relations web site, located at www.intc.com, we post the following filings as soon as reasonably practicable after they are electronically filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC): our annual, quarterly, and current reports on Forms 10-K, 10-Q, and 8-K; our proxy statements; and any amendments to those reports or statements. All such filings are available on our Investor Relations web site free of charge. The SEC also maintains a web site (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. -
Micron Technology Inc
MICRON TECHNOLOGY INC FORM 10-K (Annual Report) Filed 10/25/11 for the Period Ending 09/01/11 Address 8000 S FEDERAL WAY PO BOX 6 BOISE, ID 83716-9632 Telephone 2083684000 CIK 0000723125 Symbol MU SIC Code 3674 - Semiconductors and Related Devices Industry Semiconductors Sector Technology Fiscal Year 08/30 http://www.edgar-online.com © Copyright 2011, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 1, 2011 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-10658 Micron Technology, Inc. (Exact name of registrant as specified in its charter) Delaware 75-1618004 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 8000 S. Federal Way, Boise, Idaho 83716-9632 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (208) 368-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $.10 per share NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. -
Westwood Marketing Flash Metrics and Analysis
Westwood Marketing Flash Metrics and Analysis January 2009 www.WestwoodMarketing.Biz 2009 Kicks Off with NAND Production Cuts – Where is the Killer App? For the past four or five years the NAND market has crashed during the first week of December, only to be resurrected late in Q1 with a killer application that comes into save the day. Almost always, the savior (this time, SSD’s) is not the one who generated industry excitement during the second half of the previous year. In December, production was cut dramatically. Maybe this time the industry has it right—SSDs are not going to save the day in 2009. Market Highlights "Those that fail to learn from history are doomed to repeat it." - Winston Churchill In 2005 NAND manufacturers lead us to believe that embedded NAND flash used in mobile NAND Market applications would increase by a factor and soak up oversupply. That demand never DRAM exchange expects materialized (has it yet?), and it took Q2 2005 rumors of a flash based iPod, and Apple’s 81% NAND flash bit growth Nano introduction in September 2005 to control NAND price erosion. A nearly identical in 2009 more situation occurred in late 2006, when industry leader SanDisk set high unit sales expectations Toshiba for their MicroSD products. MicroSD sales suffered from slower than anticipated adoption in Delays NAND plant mobile phones, due to capacity mix issues and pricing. Industry expectations soon were re- construction in western set by Apple’s iPhone introduction. Japan more Numonyx Spot Market Historic Pricing Rolls out 41 nm MLC and 48 $32 nm SLC NAND processes $28 more $24 $20 Toshiba $16 Reduces NAND flash output $12 by 30% more $8 $4 Financial Market $0 SanDisk shares increased Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 9.48% or $1.05 on Monday 8 Gbit 16 Gbit 32 Gbit January 5, while Micron saw 16.9% in gains to $3.32. -
Micron: Changes for Continued Success Rachel Rice [email protected]
University of Nebraska at Omaha DigitalCommons@UNO Theses/Capstones/Creative Projects University Honors Program 5-2018 Micron: Changes for Continued Success Rachel Rice [email protected] Follow this and additional works at: https://digitalcommons.unomaha.edu/ university_honors_program Part of the Business Administration, Management, and Operations Commons Recommended Citation Rice, Rachel, "Micron: Changes for Continued Success" (2018). Theses/Capstones/Creative Projects. 5. https://digitalcommons.unomaha.edu/university_honors_program/5 This Dissertation/Thesis is brought to you for free and open access by the University Honors Program at DigitalCommons@UNO. It has been accepted for inclusion in Theses/Capstones/Creative Projects by an authorized administrator of DigitalCommons@UNO. For more information, please contact [email protected]. DECEMBER 11, 2017 MICRON CHANGES FOR CONTINUED SUCCESS RACHEL RICE UNIVERSITY OF NEBRASKA AT OMAHA Kayser Hall 208, 6001 Dodge Street, Omaha, NE 68182 Table of Contents Executive Summary 3 Introduction 5 Figure 1 5 History 6 Product Offerings 6 Figure 2 7 Management Changes 8 Acquisitions, Partnerships & Physical Expansion 9 Problem Statement 11 Figure 3 11 Internal Analysis 12 Figure 4 12 Figure 5 13 External Analysis 13 PESTEL 14 Porter’s Five Forces 17 Figure 6 17 Recommendation 18 Figure 7 19 Recommendation Implementation 21 Conclusion 22 References 23 2 Executive Summary Strategy is important for every industry, and to succeed in such a competitive industry as the technology industry, it becomes imperative. As the following describes in great detail, Micron Technology, Inc. (Micron) is one of the companies in the technology industry that must have a strategic plan such as this. The first step to developing this plan for Micron was to analyze the strategy that Micron has employed so far through a detailed description of their previous developments. -
Micron Technology Inc
MICRON TECHNOLOGY INC FORM 10-K (Annual Report) Filed 10/26/10 for the Period Ending 09/02/10 Address 8000 S FEDERAL WAY PO BOX 6 BOISE, ID 83716-9632 Telephone 2083684000 CIK 0000723125 Symbol MU SIC Code 3674 - Semiconductors and Related Devices Industry Semiconductors Sector Technology Fiscal Year 03/10 http://www.edgar-online.com © Copyright 2010, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 2, 2010 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-10658 Micron Technology, Inc. (Exact name of registrant as specified in its charter) Delaware 75 -1618004 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 8000 S. Federal Way, Boise, Idaho 83716 -9632 (Address of principal executive offices) (Zip Code) Registrant ’s telephone number, including area code (208) 368 -4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $.10 per share NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. -
Semiconductor Manufacturers. Our Primary Semiconductor Competitors
Semiconductor Manufacturers. Our primary semiconductor competitors currently include Hynix, IM Flash Technologies LLC, or IMFT (a company formed by Micron and Intel), Micron, Samsung, and Toshiba. Flash Memory Card and USB Drive Manufacturers. Our primary card and USB drive competitors currently include, among others, A-DATA Technology Co., Ltd., or A-DATA, Buffalo, Inc., or Buffalo, Chips and More GmbH, or CnMemory, Dane-Elec Memory, or Dane-Elec, Eastman Kodak Company, or Kodak, Elecom Co., Ltd., or Elecom, FUJIFILM Corporation, or FUJI, Gemalto N.V., or Gemalto, Hagiwara Sys-Com Co., Ltd., or Hagiwara, Hama, Hynix, Imation Corporation, or Imation, and its division Memorex Products, Inc., or Memorex, I-O Data Device, Inc., or I-O Data, Kingmax Digital, Inc., or KingMax, Kingston Technology Company, Inc., or Kingston, Lexar, Micron, Netac Technology Co., Ltd., or Netac, Panasonic, PNY Technologies, Inc., or PNY, RITEK Corporation, or RITEK, Samsung, Sony, STMicroelectronics N.V., or STMicroelectronics, Toshiba, Tradebrands International, or Tradebrands, Transcend Information, Inc., or Transcend, and Verbatim Americas LLC, or Verbatim. Solid-State Drive and Hard Disk Drive Manufacturers. Our SSDs face competition from other manufacturers of SSDs, including Intel, Samsung, Toshiba, and others. Our SSDs also face competition from hard disk drives, which are offered by companies including, among others, Seagate Technology LLC, or Seagate, Samsung and Western Digital Corporation, or Western Digital. Digital Audio/Video Player Manufacturers. Our digital audio/video players face strong competition from products offered by companies, including Apple Inc., or Apple, ARCHOS Technology, or ARCHOS, Coby Electronics Corporation, or Coby, Creative Technology Ltd., or Creative, Koninklijke Philips Electronics N.V., or Royal Philips Electronics, Microsoft Corporation, or Microsoft, Samsung and Sony. -
2008 Annual Report
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2008 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: N/A Commission file number: 000-51380 Silicon Motion Technology Corporation (Exact name of Registrant as specified in its charter) Cayman Islands (Jurisdiction of incorporation or organization) 8F-1, No. 36, Taiyuan St., Jhubei City, Hsinchu County 302 Taiwan (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Ordinary Shares, par value US$0.01 per share* Nasdaq Global Select Market American Depositary Shares, each representing four ordinary shares * Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of American Depositary Shares, or ADSs, each representing four ordinary shares. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities registered or to be registered pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 111, 085, 044, ordinary shares as of May 31, 2009, US$0.01 par value per share. -
View Annual Report
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2006 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-10658 Micron Technology, Inc. (Exact name of registrant as specified in its charter) Delaware 75-1618004 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 8000 S. Federal Way, Boise, Idaho 83716-9632 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (208) 368-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $.10 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ⌧ No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes No ⌧ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. -
Printmgr File
August 31, 2020 Dear Fellow Shareholder: You are cordially invited to attend the 2020 Annual General Meeting of Shareholders of Seagate Technology plc, which will be held at 5:00 p.m. Irish Standard Time on Thursday, October 22, 2020, at 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland. Due to public health concerns and continuing uncertainty in connection with COVID-19, this year we also are offering you the opportunity to virtually join the Annual General Meeting via live webcast over the Internet at 5:00 p.m. Irish Standard Time (12:00 p.m. Eastern Daylight Time). You may virtually join the Annual General Meeting and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/STX2020. In accordance with Irish law, we are required to have a principal meeting place, which is a physical location, where shareholders may attend the Annual General Meeting in person and vote. However, in light of public health concerns and travel recommendations and restrictions, we strongly advise shareholders not to attend in person at the principal meeting place, and ask that shareholders join the Annual General Meeting virtually instead. Shareholders joining virtually will not be able to vote at the meeting. Your vote is important. We encourage shareholders to cast their votes in advance of the Annual General Meeting, whether they plan to attend in person or join virtually. We continue to monitor COVID-19 developments and other circumstances. Should we determine that alternate Annual General Meeting arrangements may be advisable or required, such as changing the date, time or location of the Annual General Meeting, we will announce our decision by press release, post additional information at investors.seagate.com, and make a public filing with the U.S. -
Inotera 2014 Annual Report
Security Code:3474 Inotera 2014 Annual Report th Website Inquiry:http://www.inotera.com / http://mops.twse.com.tw Printed on March 20 , 2015 WorldReginfo - 5b37939a-67cc-4caf-bf75-923618b04226 I. Name, title, contact number and e-mail address of the Company’s Spokesperson and deputy spokesperson: Spokesperson Deputy Spokesperson Name Charles Kau Peter Shen Title Chairman Chief Financial Officer Contact number (03) 327-2988 (03) 327-2988 E-mail address [email protected] [email protected] II. Address and telephone of the headquarters, branches, and factory Company: 667, Fuhsing 3rd Rd., Hwa-Ya Technology Park, Guishan Dist., Taoyuan City 333, Taiwan(R.O.C.) Tel.: (03) 327-2988 Factory: 667, Fuhsing 3rd Rd., Hwa-Ya Technology Park, Guishan Dist., Taoyuan City 333, Taiwan(R.O.C.) Tel.: (03) 327-2988 III. The name, address, website, and telephone number of the agency handling shares transfer: Name: Stock Affairs Dept., Inotera Memories, Inc. Address: 1F, 201, Tunhwa North Road, Taipei Website: N/A Tel: (02)2718-9898 IV. Name of the certified public accountant (“CPA”) who duly audited the annual financial report for the most recent fiscal year, and the name, address and telephone number of said person's accounting firm: Name of accounting firm: KPMG Certified Public Accountants Name of CPAs: Eric Wu and Winston Yu Address: 68F, Taipei 101 Tower, No. 7, Section 5, Xinyi Road, Taipei, 11049, Taiwan Website: http://www.kpmg.com.tw Tel: (02)8101-6666 V. Name of any exchanges where the company's securities are traded offshore, and the method by which to access information on said offshore securities: Name of offshore securities: Global Depositary Shares Trading market: Luxembourg Stock Exchange Inquiry web-site: http://ir.inotera.com ; http://www.bourse.lu VI. -
1 W(A) 2020-007
Statement of Considerations REQUEST BY MICRON TECHNOLOGY, INC. (MICRON) FOR AN ADVANCE WAIVER OF DOMESTIC AND FOREIGN RIGHTS IN SUBJECT INVENTIONS MADE IN THE COURSE OF OR UNDER BATTELLE MEMORIAL INSTITUTE (BMI) SOLICITATION 594627 UNDER PRIME CONTRACT NO. DE-AC05-76RL01830; DOE WAIVER DOCKET W(A)2020-007 [ORO-826] Micron Technology, Inc. (Petitioner) has made a timely request for an advance waiver to worldwide rights in Subject Inventions made in the course of or under BMI Solicitation No. 594627 entitled “Advance Memory Research in Support of AI for Science” under BMI Prime Contract No. DE-AC05- 76RL01830. Petitioner will work in collaboration with Pacific Northwest National Laboratory (PNNL) to examine technology roadmaps for memory systems, the effectiveness of near memory computing on shared data, and future High Bandwidth Memory (HBM) designed to be for general market usage. These investigations specifically target the assessment of emerging memory technologies in support of Machine Learning (ML) and Artificial Intelligence (AI) for the Office of Science. The work is sponsored by the Advanced Scientific Computing Research (ASCR) program. The dollar amount of the expected effort is $11,901,138 with Petitioner proposing to provide 41% in- kind contribution of $4,917,954. The period of performance is approximately 24 months. Petitioner’s experience and expertise will contribute substantially to the development of the inventions made under the proposed subcontract. Micron is the No. 3 supplier of memory worldwide, including DRAM, NAND flash and NOR flash. Micron was founded in Boise, Idaho in 1978 and by 1994, was listed as #402 of the Fortune 500.