Micron
Boise, Idaho, United States
Industry: Technology/Electronics
Region: US 🇺🇸
Year Founded: 1978
IPO Date: 12-05-1984
Market Cap: $85 billion (as of 2023)
Number of Employees: Approx. 40,000
Revenue: $30.58 billion (2022)
Net Income: $5.07 billion (2022)
Micron Technology, Inc.
Micron Technology IPO
Micron Technology, a renowned semiconductor company, had its initial public offering (IPO) on April 12, 1984.
Founded in October 1978, Micron Technology went public with the aim of expanding its presence in the dynamic and competitive semiconductor market.
The IPO was a significant milestone for the company, providing it with the necessary capital to fund its research and development efforts, as well as to fuel its growth in the industry.
Micron Technology IPO Prospectus
A prospectus is a formal document required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering to the public.
You can find Micron Technology’s Prospectus here.
Company Overview & History
Micron Technology is a global leader in the design and manufacture of advanced semiconductor solutions.
The company’s product portfolio includes memory and storage technologies, such as DRAM (Dynamic Random Access Memory), NAND flash, and NOR flash memory, catering to a wide range of industries, including computing, consumer electronics, automotive, networking, and cloud computing.
Over the years, Micron has evolved into a key player in the semiconductor industry, driving innovation and setting new standards for memory and storage solutions.
Throughout its history, Micron Technology has undergone significant transformations and expansions.
It has strategically acquired other semiconductor companies and formed strategic partnerships to strengthen its market position and expand its product offerings.
Additionally, Micron has invested heavily in research and development, enabling it to remain at the forefront of technological advancements in the semiconductor domain.
Financial Performance
| Year | Revenue($B) | Net Income($B) | EBITDA($B) | Operational Cash Flow($B) |
|---|---|---|---|---|
| 2022 | 31.4 | 10.6 | 15.3 | 13.7 |
| 2021 | 27.7 | 6.3 | 10.9 | 9.9 |
| 2020 | 23.4 | 2.7 | 7.3 | 8.2 |
| 2019 | 23.4 | 6.3 | 10.2 | 9.8 |
| 2018 | 30.4 | 14.1 | 17.9 | 17.4 |
| 2017 | 20.3 | 5.1 | 8.9 | 8.2 |
| 2016 | 12.4 | -0.3 | 2.5 | 3.2 |
| 2015 | 16.2 | 2.9 | 5.6 | 5.8 |
| 2014 | 16.4 | 3.0 | 5.8 | 5.6 |
| 2013 | 9.1 | -1.2 | 1.2 | 2.1 |
Business Model
Micron Technology operates as a vertically integrated semiconductor manufacturer.
The company controls the entire production process, from the design and development of its memory and storage solutions to the manufacturing and distribution.
This business model allows Micron to have better control over product quality, cost efficiency, and time-to-market, providing a competitive advantage in the industry.
Moreover, Micron focuses on innovation and works closely with its customers to tailor its memory and storage solutions to meet their specific needs.
The company’s customer-centric approach has enabled it to build strong, long-term partnerships with major technology companies worldwide.
Market Cap Over the Years
| Year | Market Cap($B) |
|---|---|
| 2022 | 94.4 |
| 2021 | 91.4 |
| 2020 | 53.6 |
| 2019 | 48.0 |
| 2018 | 37.2 |
| 2017 | 49.6 |
| 2016 | 22.8 |
| 2015 | 19.3 |
| 2014 | 31.7 |
| 2013 | 22.9 |
| 2012 | 6.3 |
| 2011 | 7.8 |
| 2010 | 8.1 |
| 2009 | 5.3 |
| 2008 | 2.0 |
| 2007 | 7.8 |
| 2006 | 9.2 |
| 2005 | 9.4 |
| 2004 | 10.6 |
| 2003 | 7.1 |
| 2002 | 3.6 |
| 2001 | 8.2 |
| 2000 | 29.9 |
| 1999 | 16.7 |
| 1998 | 6.8 |
| 1997 | 6.3 |
| 1996 | 3.1 |
| 1995 | 2.3 |
Risk Factors
While Micron Technology has experienced significant success and growth, it operates in a highly competitive and cyclical industry, which exposes it to various risks.
Fluctuations in demand and supply of memory and storage products, rapid technological advancements, and price pressures are some of the key risks that can impact the company’s financial performance.
Additionally, global economic conditions and geopolitical factors can influence the semiconductor market, affecting Micron’s business operations.
Market Opportunity
Micron Technology operates in a dynamic market with substantial growth opportunities.
The increasing adoption of data-driven technologies, artificial intelligence, cloud computing, and the Internet of Things (IoT) are driving the demand for high-performance memory and storage solutions.
As the world becomes more data-centric, Micron is well-positioned to capitalize on the growing need for advanced semiconductor products in various industries, including data centers, mobile devices, automotive applications, and more.
Competitors
- Samsung Electronics
- SK Hynix
- Western Digital
- Kioxia (formerly Toshiba Memory)
- Intel Corporation
- Sony Semiconductor Solutions
- Broadcom Inc.
- Qorvo Inc.
Key/Fun Company Facts
- Micron Technology was founded by Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman in Boise, Idaho.
- The name “Micron” is derived from “microelectronics” and reflects the company’s focus on semiconductor technology.
- Micron played a pivotal role in the development of the first 64-megabit DRAM in 1992, showcasing its commitment to technological advancement.
- The company actively promotes environmental sustainability and has received recognition for its efforts in reducing its carbon footprint.
- Micron has research and development centers in multiple countries, fostering a diverse and innovative workforce.