Micron Technology Inc (MU) stock analysis
Micron Technology Inc (MU) clears 5 of this site's 8 mechanical value filters, 8 of 8 Buffett-style checks and 4 of 5 Lynch-style checks. At $856.49 it trades 2.3% below this site's neutral DCF value (a margin of safety of +2.3%). Its earnings quality rates Mixed and it returns 0.0% to shareholders net of dilution. Figures are as of October 23, 2026, from SEC filings and market data refreshed weekly; this is educational analysis, not investment advice.
Data as of October 23, 2026. Refreshed weekly from SEC filings and market data.
What does Micron do?
Micron makes memory chips: DRAM, which holds data while a computer is running, and NAND flash for storage. Prices swing sharply with supply and demand, and AI data centers have become a major source of demand.
What stands out about Micron?
- The share price implies 7.4% yearly growth. At $856.49, MU's free cash flow of $51.33 per share would have to grow 7.4% a year, fading to 2.5% by year 10, for this site's DCF (10% discount rate) to match the price. This site's baseline starts at 8%, so the price asks for less growth than the baseline. Change the assumptions.
- Misses 1 of the 8 value filters. It fails Price/Sales < 7 (7.39); the other 5 pass and 2 were not evaluated. See every filter.
- Strongest against peers: net margin. At 63.8% (peer median 26.9%) it ranks 1st of 20 among semiconductors stocks this site tracks. See the ranking.
- Weakest against peers: dividend yield. At 0.06% (peer median 0.66%) it ranks 16th of 16 among semiconductors stocks this site tracks. See the ranking.
- Earnings quality: Mixed · 1 flag, 1 watch. Beneish M-score 0.37 (above the −1.78 line), mostly from very fast sales growth · accruals −3.4% of assets · 123% of profit arrived as cash · stock comp 1.0% of revenue · share count +1.1% a year. From the latest 10-K (year to Sep 2026). See the Earnings Quality Screener.
How has Micron's share price moved?
The interactive price chart needs JavaScript.
Is Micron undervalued? The value diligence check
Every value-investing signal this site computes for this stock, gathered in one place: the same real numbers from the tools below, not a new score.
- Margin of safety (DCF) +2.3%
- P/E vs. its own history 11.6x · near the cheap end Real range: 7.3x–127.3x over 5 years (net income per diluted share from each fiscal year's 10-K, paired with the real closing price at that fiscal year-end).
- Wall St. analyst rating Buy · 4.25/5 57 analysts this month: 18 strong buy, 35 buy, 4 hold, 0 sell, 0 strong sell (Finnhub). Up from 4.21 last month.
- Earnings quality (is the profit real?) Mixed · 1 flag, 1 watch Beneish M-score 0.37 (above the −1.78 line), mostly from very fast sales growth · accruals −3.4% of assets · 123% of profit arrived as cash · stock comp 1.0% of revenue · share count +1.1% a year. From the latest 10-K (year to Sep 2026) - see the Earnings Quality Screener for how each check is scored.
- Shareholder yield (cash back to owners) 0.0% net Latest fiscal year (2026): dividends 0.1% + buybacks 0.1% − stock comp 0.1%, as a share of today's market cap. Stock comp outruns what comes back in cash. Over 14 years its split-adjusted share count rose 15%. See Shareholder Yield Leaders.
- Capital needed to grow (See's test) $1.27 per $1 of new profit · FlightSafety-like Operating profit $9.4B → $37B, capital needed $29B → $64B, 2017–2026 (3-year averages); return on capital now 58% before tax. Buffett's See's Candies needed $0.42 per $1 of new profit, FlightSafety $3.20, a typical grower about $5. Cyclical: the answer depends on where in its cycle the window starts and ends. See Capital-Light Compounders.
- PEG (growth at a reasonable price) 0.15 · Well under fair P/E 11.6× ÷ 79.2% a year of growth behind it. 11th lowest of 447 stocks with a usable PEG. Lynch's fair value is a PEG of 1; a very high PEG usually means almost no growth, a very low one a profit spike. See PEG Ratio Ranking.
- Compounder lenses (4) 2 of 4 · misses real profit, cash back Capital-light growth: cleared; Profit is real: not cleared (1 earnings-quality flag); Cash to owners: not cleared (0.0% a year net); Fair price (PEG): cleared. See Compounders at a Fair Price, which also lets you move the PEG bar.
- Value trap check Clear
- Munger's Inversion Check 0 flags
- Standing vs. sector peers 6 of 7 measures above the median Compared with the 19 other semiconductors stocks this site tracks: 6 in the top third, 1 in the bottom third.
- Dividend payout sustainability 0/6 · clean
How does Micron compare with its peers?
6 of 7 measures sit above the median of the 19 other semiconductors stocks tracked here, 6 in the top third and 1 in the bottom third.
- P/E ratiolower is cheaper · peer median 42.5× 11.6× ✓2nd of 19
- Free-cash-flow yieldhigher is cheaper · peer median 2.5% 6.0% ✓2nd of 20
- Return on equityhigher is better · peer median 25% 92% ✓2nd of 20
- Net marginhigher is better · peer median 26.9% 63.8% ✓1st of 20
- Revenue growthhigher is better, year on year · peer median 23.8% 256.3% ✓1st of 19
- Debt / equitylower is safer · peer median 0.29 0.04 ✓4th of 20
- Dividend yieldamong dividend payers · peer median 0.66% 0.06% ✕16th of 16
Peers are the stocks this site tracks in the same sector group, not every listed competitor. The bar runs from the weakest peer (left) to the strongest (right); the tick is the middle. Measures that don't apply to a sector (cash-flow yield for banks, debt for financials) are left out.
What would Buffett & Lynch say?
Buffett's checklist is built around durable, profitable businesses bought at sensible prices, and MU clears it. In its favor: MU is currently earning a strong return on shareholders' equity, and has kept that profitability up over five years, not just this year, carries a conservative amount of debt relative to equity, converts sales into profit at healthy margins, has grown earnings per share at a solid clip over five years, earns many times its interest expense, so debt service isn't a worry, is trading below what a conservative discounted-cash-flow estimate says it's worth - his own "price is what you pay, value is what you get" test, not a fixed multiple ceiling, and trades at a reasonable multiple of owner earnings, his own term for the real cash a business could pay out.
- ROE (TTM) > 11% ✓
- ROE (5yr avg) > 11% ✓
- Debt/Equity < 0.5 ✓
- Pretax margin > 15% ✓
- EPS growth (5yr) > 7% ✓
- Interest coverage > 5x ✓
- Trading below intrinsic value (DCF) ✓
- Price vs. owner earnings < 25x ✓
- Bonus: returning capital via buybacks FY2026
Lynch looked for growth stories that weren't overpriced for that growth, and MU falls short of his bar. In its favor: MU clears an even tighter PEG-under-1 bar he'd want for a stock growing this fast, isn't leaning on debt to fund that growth, isn't asking too much even by a fast grower's usual richer multiple, and is generating real cash to back up a fast grower's higher price tag. Where it comes up short: MU is growing earnings outside the 20-50% band he considered sustainable for a fast grower - either not fast enough to earn the label, or a pace he'd flag as unlikely to hold up.
- PEG < 1 (stricter for fast growers) ✓
- EPS growth 20%-50% ✕
- Debt/Equity < 0.5 ✓
- P/E < 40 ✓
- Price/FCF < 40 ✓
Quantitative approximations of each investor's documented approach, not endorsed by either investor or their estates - commentary, not this site's actual ranking criteria. Buffett never published a numeric checklist: only 2 of his 8 checks here trace to his own documented concepts ("owner earnings," from his 1986 shareholder letter, and "price is what you pay, value is what you get," his case against fixed P/E/P/B ceilings) - the other 6 (ROE, debt, margins, growth, interest coverage) use commonly-cited thresholds that are not numbers he himself published. The 8 hard filters below (plus the Munger check and Graham margin of safety) are this site's real, mechanical screen and are computed completely independently of the checklists above.
Berkshire Hathaway's own filing
Which of the 8 value filters does Micron pass?
- Market Cap > $25B $983.8B
- Trailing P/E < 25 11.58
- PEG Ratio < 1.5 0.15
- Price/Book < 8 7.11
- Price/Sales < 7 7.39
- EPS Growth YoY > -5% +1061.4%
- vs 50-day MA (±12%) Not evaluated †
- vs 200-day MA (±12%) Not evaluated †
What is Micron's margin of safety?
-19% on 2026-10-07 → +2% on 2026-10-23 (5 weekly readings).
Where is Micron in its 52-week range?
What is the short interest in Micron?
26,023,190 shares short as of 2026-09-30 (FINRA settlement date). Reported twice a month, so this only changes roughly every two weeks, not daily.
What could go wrong with Micron? Munger's inversion check
"Invert, always invert." Instead of reasons to buy, these are reasons to hesitate, not a verdict, and not everything worth knowing about a business.
- Margin of safety, even in the bull case +42%
- Short interest under 5% of float 2.3%
- Passes most of the 6 fundamental filters 5/6 passed
- Price run-up backed by value, not just momentum +375% off 52wk low
- Debt/equity stable since 2017 0.60 → 0.04
Doesn't cover circle of competence, management quality, or accounting concerns: those need judgment, not data.
How much have Micron shareholders gained per year?
Earnings growth per share plus dividend.
An earnings-based proxy, not a stock-price total return - it doesn't capture multiple expansion/contraction or reinvested dividends. EPS from MU's own 10-K filings; dividend yield is the current trailing yield on today's price, from the same weekly fetch as the rest of this site.
What do Micron's 10-year financials show?
From MU's own 10-K filings (SEC EDGAR): up to the last 10 fiscal years. Press any year's bars for the exact figures.
Frequently asked questions about Micron
What kind of company is Micron?
Micron makes memory chips: DRAM, which holds data while a computer is running, and NAND flash for storage. Prices swing sharply with supply and demand, and AI data centers have become a major source of demand. This site groups it with Semiconductors stocks.
Is Micron trading above or below its DCF value?
At $856.49, MU trades 2.3% below this site's neutral DCF value of $876.58 per share, a margin of safety of +2.3%. That DCF projects free cash flow for 10 years, with growth starting at 8% and fading to 2.5%, discounted at 10%; it is one set of assumptions, not a forecast. Test your own in the Intrinsic Value Calculator.
How many of this site's 8 value filters does Micron pass?
MU passes 5 of 8. It passes Market Cap > $25B ($983.8B), Trailing P/E < 25 (11.58), PEG Ratio < 1.5 (0.15), Price/Book < 8 (7.11) and EPS Growth YoY > -5% (+1061.4%). It misses Price/Sales < 7 (7.39). vs 50-day MA (±12%) and vs 200-day MA (±12%) were not evaluated, because the moving-average checks only run on stocks that clear the fundamentals first. The 8-filter list shows every stock that passes all of them.
Are Micron's reported earnings reliable?
This site's earnings-quality check rates MU Mixed · 1 flag, 1 watch. Beneish M-score 0.37 (above the −1.78 line), mostly from very fast sales growth · accruals −3.4% of assets · 123% of profit arrived as cash · stock comp 1.0% of revenue · share count +1.1% a year. From the latest 10-K (year to Sep 2026). Concerns: the Beneish M-score (flagged) and share dilution (on watch). The five checks are the Beneish M-score (manipulation risk), accruals, cash conversion, stock-based compensation and share dilution; the Earnings Quality Screener shows how each is graded.
How fast has Micron grown its revenue and profit?
From fiscal 2017 to fiscal 2026, MU's revenue grew from $20.3 billion to $133.2 billion, 23.2% a year. Net income went from $5.1 billion to $85.0 billion, and its net profit margin from 25.0% to 63.8%. Earnings per share went from $4.41 to $74.34 on today's share count, 36.9% a year. In fiscal 2026 it produced $59.0 billion of free cash flow (cash from operations minus capital spending), 44.3% of its revenue. All figures are from MU's own 10-K filings (SEC EDGAR) and are shown year by year in the 10-Year Financials section of the card above.
Which well-known investors own Micron?
Among the investors whose SEC 13F filings this site tracks, David Tepper (15.1% of the portfolio; trimmed the position), Steve Cohen (0.6% of the portfolio; trimmed the position) and Ray Dalio (0.6% of the portfolio; trimmed the position) held MU as of June 30, 2026. 13F filings cover only US-listed equities and arrive up to 45 days after the quarter ends, so they lag the real portfolios. See Superinvestors.
Where do these numbers come from?
- Financial statements: Micron's 10-K annual report for the year ended Sep 3, 2026, filed Oct 9, 2026 (filing index). Every earlier year in the 10-year financials comes from the company's older 10-K filings, all listed on SEC EDGAR.
- Prices and market data: quotes, P/E and analyst ratings from Finnhub; daily price history and the 52-week range from Twelve Data, both refreshed weekly. Short interest comes from FINRA, reported twice a month.
- How to check a figure: click any number in the card above to see its exact source, and read the Editorial Standards for every rule behind the checks.
About this Micron Technology Inc analysis
This page shows every value-investing check the site runs on Micron Technology Inc (MU) in one place: the 8 mechanical filters, the Buffett and Lynch checklists, a margin of safety from a disclosed DCF, earnings quality, shareholder yield and how it ranks against its sector peers. The numbers come from SEC filings and public market data, refreshed weekly, and the same rules apply to every stock on the stock list. See Editorial Standards for the sources and the rules, or run your own filters in the stock screener.