Micron and Hynix Defeat Rambus in Price-Fixing Dispute
Rambus (NASDAQ:RMBS) claimed it lost billions of dollars in business. Attorneys argued that South Korea’s Hynix and Idaho-based Micron (NASDAQ:MU) plotted to fix prices of memory chips used in personal computers and prevent Rambus’s (NASDAQ:RMBS) technology from becoming widely used.
“Micron (NASDAQ:MU) and Hynix, which may appeal a possible verdict against them, countered that Rambus’s (NASDAQ:RMBS) chip technology was plagued by technical problems and that the company blames competitors for its own failure,” according to Reuters.
Here’s how these stocks are trading on the news:
- Micron Technology Inc. (NASDAQ:MU): The shares recently traded at $5.70, up $0.24, or 4.4%. Its market capitalization is $5.63 billion. They have traded in a 52-week range of $3.97 to $11.95. Volume today was 26,240,230 shares versus a 3-month average volume of 38,092,900 shares. The company’s trailing P/E is 33.53, while trailing earnings are $0.17 per share. About the company: Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules. Get the most recent company news and stock data here >>
- Rambus Inc. (NASDAQ:RMBS): The shares recently traded at $18.37, up $0.33, or 1.83%. Its market capitalization is $2.02 billion. They have traded in a 52-week range of $9.78 to $22.80. Volume today was 1,625,512 shares versus a 3-month average volume of 1,786,310 shares. The company’s trailing P/E is 108.06, while trailing earnings are $0.17 per share. About the company: Rambus Inc. designs, develops, licenses, and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of consumer electronics, computer systems, and other electronic systems. The Company licenses semiconductor companies to manufacture and sell memory and logic ICs incorporating Rambus interface technology. Get the most recent company news and stock data here >>