Micron Technology Inc
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Micron Technology Inc. Watchdog Report ™ MU (NASDAQ Global) | CIK:723125 | United States | SEC llings The new model for duciary analysis Sep 24, 2021 Jan 1, 2020 Jan 1, 2016 RECENT PERIOD HISTORICAL PERIOD Key Facts 10-Q led on Jul 1, 2021 for period ending Jun 2021 Business address: Boise, Idaho, United States Reporting Irregularities RECENT HISTORICAL Industry: Semiconductor and Related Device Manufacturing (NAICS Financial Restatements 334413) SEC ler status: Large Accelerated Filer as of Jun 2021 Revisions Index member: S&P 500, Russell 1000 Out of Period Adjustments Market Cap: $83.4b as of Sep 24, 2021 Late Filings Annual revenue: $21.4b as of Sep 3, 2020 Impairments Corporate Governance Changes in Accounting Estimates CEO: Sanjay Mehrotra since 2017 Disclosure Controls CFO: David A. Zinsner since 2018 1st level Internal Controls Board Chairman: Robert E. Switz since 2012 Critical / Key Audit Matters Audit Committee Chair: NOT AVAILABLE Anomalies in the Numbers 2nd level RECENT HISTORICAL Benford's Law Auditor: PricewaterhouseCoopers LLP since 1984 Outside Counsel (most recent): Orrick Herrington & Sutcliffe LLP Beneish M-Score 3rd level Accounting Disclosure Complexity SEC Reviewer: Cecilia D Blye Securities & Exchange Commission Concerns 4th level RECENT HISTORICAL SEC Oversight SEC Letters to Management Revenue Recognition Non-GAAP Measures Litigation & External Pressures RECENT HISTORICAL Signicant Litigation Securities Class Actions Shareholder Activism Watchdog Research, Inc., offers both individual and group subscriptions, Cybersecurity data feeds and/or custom company reports to our subscribers. Management Review Subscribe: We have delivered 300,000 public company reports to over RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public CEO Changes company corporate board members. CFO Changes How to analyze this company's Watchdog Insider Sales Report? Skip to the last page Pledged Securities Information in this report is effective Sep 24, 2021 and is taken from the Mergers & Acquisitions company's public nancial and regulatory lings. Latest ling 10-Q led Sales of Assets 07/01/2021. Over 75 accounting and data analysts scrutinize and review crucial information, footnotes, disclosures, etc., from these lings. Material Auditor Assessment facts are captured and processed using our proprietary methods which RECENT HISTORICAL identify key risk factors our readers need to know. Each Watchdog Report Auditor Changes represents 30 or more hours of analysis and processing. Auditor Experience Accounting and nancial disclosure data from Audit Analytics. Auditor Tenure Executive compensation data from Shore Group and Intrinio. Data from Sharadar. Audit Fees Data from Barchart via Quandl. Non-Audit Fees Data from Exchange Data International via Quandl. Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Overview Reporting Irregularities Anomalies in the Numbers SEC Concerns Litigation & External Pressures Management Review Auditor Assessment Peer Group Overview Price and Volume History This graph shows the price and trading history for Micron. Warning signs and red ags are marked on the graph according to their disclosure dates. 1 May 10, 2021 - Lawsuit: Vervain LLC v. Micron Technology Inc et al 17 Aug 8, 2018 - SEC letters to management 2 Apr 28, 2021 - Lawsuit: Netlist Inc v. Micron Technology Inc et al 18 Jun 26, 2018 - Lawsuit: In Re Dynamic Random Access Memory (DRAM) Direct Purcha… 3 Apr 1, 2021 - Disclosure Controls 19 Apr 27, 2018 - Lawsuit: In Re Dynamic Random Access Memory (DRAM) Indirect Purch… 4 Feb 9, 2021 - Lawsuit: Foote v. Micron Technology Inc et al 20 Feb 5, 2018 - Change in CFO 5 Oct 20, 2020 - Insider Sale 21 Dec 5, 2017 - Lawsuit: Micron Technology Inc v. United Microelectronics Corporation et … 6 Oct 20, 2020 - Insider Sale 22 Dec 1, 2017 - Lawsuit: President and Fellows of Harvard College v. Micron Technology I… 7 Oct 19, 2020 - Impairment 23 Oct 26, 2017 - Disclosure Controls 8 Oct 19, 2020 - Critical / Key Audit Matters 24 Jul 27, 2017 - Change in CEO 9 Oct 19, 2020 - Critical / Key Audit Matters 25 Jun 30, 2017 - Disclosure Controls 10 May 4, 2020 - Lawsuit: Flash-Control LLC v. Micron Technology Inc 26 Mar 29, 2017 - SEC letters to management 11 Dec 20, 2019 - Change in Accounting Estimates 27 Mar 29, 2017 - Revenue Recognition 12 Oct 17, 2019 - Impairment 28 Mar 28, 2017 - Disclosure Controls 13 Oct 17, 2019 - Critical / Key Audit Matters 29 Feb 3, 2017 - Change in CEO 14 Mar 4, 2019 - Lawsuit: Gonzalez v. Mehrotra et al 30 Oct 28, 2016 - Change in Accounting Estimates 15 Jan 23, 2019 - Lawsuit: In re Micron Technology Inc Securities Litigation 31 Oct 13, 2016 - Insider Sale 16 Jan 23, 2019 - Securities Class Actions Lawsuit: In re Micron Technology Inc Securities… Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Notications Important notications related to the company are listed here. Notications may come from the SEC, exchanges such as the NYSE or NASDAQ, or Watchdog Research. Examples of notications include announcements of bankruptcy proceedings, company name changes, and noncompliance with SEC regulations or exchange rules. There are no notications for Micron at least since 2016. Peer Group Peer groups are used by companies to benchmark executive compensation and performance. Each company identies its own peer group. Peer groups vary from company to company. Peer Group Companies Who Named Micron as a Peer Company Ticker Market Company Ticker Market Cap Cap Broadcom Inc. AVGO $208b Nvidia Corp. NVDA $550b Linde PLC LIN $160b Adobe Inc. ADBE $297b Qualcomm Inc. QCOM $151b Salesforce Com Inc. CRM $280b Advanced Micro Devices AMD $128b Cisco Systems, Inc. CSCO $239b Applied Materials Inc. AMAT $128b Intel Corp. INTC $220b Anthem, Inc. ANTM $94.5b Texas Instruments Inc. TXN $196b Lam Research Corp. LRCX $86.9b Qualcomm Inc. QCOM $151b Micron Technology Inc. MU $83.4b Advanced Micro Devices AMD $128b Fedex Corp. FDX $60.2b International Business Machines Corp. IBM $123b (IBM) NXP Semiconductors N.V. NXPI $57b Micron Technology Inc. MU $83.4b Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Peer Flag Comparison The return to a company’s stock is not the only measure of executive performance. Ethics matter, and growth can quickly reverse and gains evaporate if a company’s accounting and nancial reporting processes are not fundamentally sound and trustworthy. How does Micron's accounting quality compare to its peer group? MU PEER GROUPFLAGS MU PEER GROUPFLAGS Reporting Irregularities Litigation & External Pressures Financial Restatements 9 Signicant Litigation 9 Revisions 8 1 Securities Class Actions 2 7 Out of Period Adjustments 9 Shareholder Activism 9 Impairments 4 5 Cybersecurity 3 6 Changes in Accounting Estimates 6 3 Management Review Disclosure Controls 4 5 CEO Changes 4 1 4 Internal Controls 9 CFO Changes 3 5 1 Critical / Key Audit Matters 5 4 Insider Sales 3 6 Pledged Securities 9 Anomalies in the Numbers Benford's Law 7 2 Mergers & Acquisitions 1 5 3 Beneish M-Score 7 2 Sales of Assets 9 Accounting Disclosure Complexity 3 6 Auditor Assessment Auditor Changes 9 Securities & Exchange Commission Concerns SEC Oversight 9 Auditor Experience 9 SEC Letters to Management 9 Auditor Tenure 2 7 Revenue Recognition 5 4 Audit Fees 6 3 Non-GAAP Measures 9 Non-Audit Fees 7 2 Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 About Watchdog Research, Inc. Watchdog Research, Inc. is an independent research provider and publisher of Watchdog Reports. Watchdog Reports identify red ags, issues, and other anomalies in nancial reporting. Our reports contain warning signs, red ags, material disclosures, and peer analysis for use in valuation, risk analysis, due diligence research, and idea generation. Watchdog Reports are designed to assist investment professionals fulll their duciary or suitability obligations and to help investors, executives, board members, regulators and educators learn what they need to know about publicly traded companies. The company is headquartered in Ave Maria, FL. Watchdog Research, Inc. utilizes over 75 specialists and analysts to provide accurate and timely Watchdog Research, Inc. information to our readers. 5072 Annunciation Cir. Suite 202 Ave Maria, FL 34142 Our management team is: [email protected] (855) 820-6272 CEO: Brian Lawe. 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Joseph worked previously as a professor of economics at Ave Maria University. He received his Ph.D. from the University of Wisconsin-Madison and resides with his family in the Naples area. Director of Research: John Cheffers. John is responsible for writing our blogs and for our press relationships. He received his bachelors from Washington University in St. Louis, and has worked for Audit Analytics and Ave Maria University. He graduated Ave Maria University School of Law where his research was selected for publication in the Law Review. He currently lives in Pennsylvania with his wife and two children. Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272.