Shares of Micron Technology Inc. ran up 7.4% in after-hours trade Wednesday, after the memory chip maker reported its first quarterly profit in a year, that beat expectations. Earnings for the quarter to Dec. 1 were $180 million, or 16 cents a share, down from $206 million, or 19 cents a share, in the same period a year ago.
Category: Semiconductors
InvenSense’s Stock Soars To Lead NYSE Gainers After TDK Merger Deal
InvenSense Inc.’s stock soared 17% toward a 16-month high in morning trade Wednesday, enough to be the top gainer on the NYSE, after the sensor platform maker agreed to be acquired by Japan’s TDK Corp. in a deal valued at $1.3 billion. Under terms of the deal, TDK will pay $13 for each InvenSense share, a 20% premium to Tuesday’s closing price of $10.84.
Jim Cramer’s Top Takeaways: Analog Devices, Plus Merger Candidates and Trump Stocks
Analog Devices : Cramer spoke with David Zinsner, CFO of Analog Devices about the Internet of Things market. Zinsner said, “The Internet of Things is really about taking information from the real world, bringing it up to the cloud, analyzing it, and making decisions based on it.”