Skip to Content
Morningstar

Micron Technology Inc MU

Morningstar Rating
Unlock
Stock XNAS Rating as of
$73.68 +0.54 (0.74%)
View Full Chart
As of Cboe BZX Real-Time Price Open
Unlock Our Analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

Micron: Positive Preliminary Earnings Announcement Aligns With Our Recovery Thesis

William Kerwin

We maintain our $70 fair value estimate for no-moat Micron Technology after the company raised its fiscal 2024 first-quarter guidance. Micron has seen better pricing dynamics, primarily in DRAM chips, over the course of the quarter, which ends Nov. 30. We’re pleased to see higher expectations for sales and profits in the first quarter, and we see our broader expectations for rebounding results in fiscal 2024 and fiscal 2025 playing out. The shares dipped nearly 3% in Nov. 28 midday trading, we think largely because of the rebound expectations already baked into the price. We believe the shares are fairly valued.

Read Full Report

Price vs Fair Value

View History
MU is trading at a 4% premium.
Price
$73.13
Fair Value
$25.00
Uncertainty
High
1-Star Price
$137.90
5-Star Price
$53.00
Economic Moat
Dmzg
Capital Allocation
Gndzfbsy

Bulls Say, Bears Say

Bulls

When memory markets are in an upswing and demand is strong, Micron’s sales growth and profitability can be impressive.

Bears

Micron has a high fixed cost base that leaves it vulnerable to underutilization charges and major profit compression when memory markets enter a downturn.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if MU is a good fit for your portfolio.
Get 7 Days Free

News

View All

Trading Information

Previous Close Price
$73.14
Day Range
$72.99–74.19
52-Week Range
$48.44–79.01
Bid/Ask
$73.68 / $73.70
Market Cap
$81.27 Bil
Volume/Avg
2.6 Mil / 13.0 Mil

Key Statistics

Price/Earnings (Normalized)
35.00
Price/Sales
5.14
Dividend Yield
0.63%
Dividend Yield (Forward)
0.63%
Total Yield
1.16%

Company Profile

Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.
Sector
Technology
Industry
Semiconductors
Stock Style Box
Large Core
Total Number of Employees
43,000
Website
https://www.micron.com

Competitors

Valuation

View More
Metric
MU
005930
000660
Price/Earnings (Normalized)
 35.0010.67348.41
Price/Book Value
 1.821.371.61
Price/Sales
 5.141.462.97
Price/Cash Flow
 17.947.5293.39
Price/Earnings
MU
005930
000660

Financial Strength

Metric
MU
005930
000660
Quick Ratio
 2.531.940.72
Current Ratio
 4.462.801.50
Interest Coverage
 −14.798.17−10.36
Quick Ratio
MU
005930
000660

Profitability

Metric
MU
005930
000660
Return on Assets (Normalized)
 −7.35%8.29%−9.29%
Return on Equity (Normalized)
 −10.30%10.89%−15.90%
Return on Invested Capital (Normalized)
 −8.35%9.57%−9.79%
Return on Assets
MU
005930
000660

Semiconductors Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
NVDA
NVIDIA CorpYmtmn$1.1 Tril
TSM
Taiwan Semiconductor Manufacturing Co Ltd ADRVspy$475.6 Bil
AVGO
Broadcom IncFgnz$471.3 Bil
AMD
Advanced Micro Devices IncYphgwz$188.7 Bil
INTC
Intel CorpDxbp$174.0 Bil
QCOM
Qualcomm IncHlwxd$144.6 Bil
TXN
Texas Instruments IncGqlc$141.7 Bil
ADI
Analog Devices IncJvk$89.6 Bil
ARM
ARM Holdings PLC ADRPnlv$62.6 Bil