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Micron Technology (MU, Semiconductors) Stock Valuation & Fair Value Favorable on our tests

Micron Technology (MU, Semiconductors) trades at a blended P/E of 12.8, about 40% below its historical normal valuation, with a forward growth estimate of 32.6% and a PEG of 0.39. Priced at its historical normal P/E of 21.3 on the same blended earnings, the 2026-10-02 close of $1,074.89 corresponds to about $1,790 a share. This is a valuation reference, not a price target.

DATA AS OF 2026-10-05
Blended P/E
12.8
Normal P/E
21.3
PEG
0.39
Fwd growth
32.6%
Div yield
0.1%
RSI (14)
51.1
Neutral
Technical context
  • Price $1,035.84 at the 2026-10-08 close, level with the 20-day average ($1,035.57) and 6.4% above the 50-day ($973.10).
  • RSI (14) at 51.1.
  • 52-week range $181.42 to $1,213.37: the price is 14.6% below the high and 471.0% above the low.
  • At its last earnings report the options market priced a 10.3% move.

The Street vs SeerForecast

Wall Street's mean price target for MU is $1,520.02 across 46 analysts, 46.7% above the current price. The average analyst rating is Strong Buy. Our SeerForecast read of the same stock, formed without analyst targets: favorable on our tests. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating has been favorable on our tests since 2026-06-03.

Blended P/E and rating by weekBlended P/E moved from 20.0 to 12.8 between 2026-06-03 and 2026-10-02, against a normal P/E of 23.3, with 3 rating changes over 37 recorded weeks.2026-06-03: P/E 20.0, Favorable on our tests, recalculated for the week of 2026-06-032026-06-10: P/E 18.2, Favorable on our tests, recalculated for the week of 2026-06-102026-06-12: P/E 18.2, Favorable on our tests, recalculated for the week of 2026-06-142026-06-16: P/E 18.2, Favorable on our tests, recalculated for the week of 2026-06-162026-06-18: P/E 18.2, Favorable on our tests, recalculated for the week of 2026-06-212026-07-02: P/E 16.6, Strong on our tests, recalculated for the week of 2026-07-022026-07-06: P/E 15.6, Strong on our tests, recalculated for the week of 2026-07-062026-07-09: P/E 15.6, Strong on our tests, recalculated for the week of 2026-07-092026-07-10: P/E 15.3, Strong on our tests, recalculated for the week of 2026-07-122026-07-13: P/E 15.3, Strong on our tests, recalculated for the week of 2026-07-132026-07-14: P/E 15.3, Strong on our tests, recalculated for the week of 2026-07-142026-07-20: P/E 13.0, Strong on our tests, recalculated for the week of 2026-07-202026-07-22: P/E 13.0, Strong on our tests, recalculated for the week of 2026-07-222026-07-24: P/E 13.9, Strong on our tests, recalculated for the week of 2026-07-252026-07-27: P/E 13.9, Strong on our tests, recalculated for the week of 2026-07-272026-07-31: P/E 12.9, Strong on our tests, recalculated for the week of 2026-07-312026-07-31: P/E 12.2, Strong on our tests, recorded live 2026-08-032026-08-07: P/E 12.8, Strong on our tests, recalculated for the week of 2026-08-072026-08-07: P/E 12.7, Strong on our tests, recorded live 2026-08-102026-08-14: P/E 13.6, Strong on our tests, recalculated for the week of 2026-08-142026-08-14: P/E 13.8, Strong on our tests, recorded live 2026-08-172026-08-21: P/E 13.7, Strong on our tests, recalculated for the week of 2026-08-212026-08-21: P/E 13.5, Strong on our tests, recorded live 2026-08-242026-08-27: P/E 13.5, Strong on our tests, recalculated for the week of 2026-08-272026-08-28: P/E 12.9, Strong on our tests, recalculated for the week of 2026-08-282026-08-28: P/E 12.8, Strong on our tests, recalculated for the week of 2026-08-302026-08-28: P/E 12.8, Strong on our tests, recorded live 2026-08-312026-09-04: P/E 13.7, Strong on our tests, recalculated for the week of 2026-09-052026-09-04: P/E 13.7, Strong on our tests, recorded live 2026-09-072026-09-11: P/E 12.9, Strong on our tests, recalculated for the week of 2026-09-122026-09-11: P/E 12.9, Strong on our tests, recorded live 2026-09-142026-09-18: P/E 13.1, Strong on our tests, recalculated for the week of 2026-09-192026-09-18: P/E 13.1, Strong on our tests, recorded live 2026-09-212026-09-25: P/E 13.7, Strong on our tests, recalculated for the week of 2026-09-262026-09-25: P/E 13.7, Mixed on our tests, recorded live 2026-09-282026-10-02: P/E 12.8, Favorable on our tests, recalculated for the week of 2026-10-032026-10-02: P/E 12.8, Favorable on our tests, recorded live 2026-10-0515.020.0Jun 3Jul 3Aug 2Sep 2Oct 2Normal P/E 23.3
Strong on our testsFavorable on our testsMixed on our testsLarger dot: a stronger reading

Not every point was recorded live. Points marked recalculated apply today's valuation rules to the metrics tickerseer archived that week.

Selected weeks: the first, the latest, every week the rating moved, and the cheapest and dearest.

WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 20.0-14%Favorable on our tests (recalculated)
2026-07-02P/E 16.6-29%Strong on our tests (recalculated)
2026-08-03P/E 12.2-48%Strong on our tests
2026-09-28P/E 13.7-41%Mixed on our tests (across a rating rules change)
2026-10-03P/E 12.8-40%Favorable on our tests (recalculated)
2026-10-05P/E 12.8-40%Favorable on our tests ← now
Show all 37 weeks
WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 20.0-14%Favorable on our tests (recalculated)
2026-06-10P/E 18.2-22%Favorable on our tests (recalculated)
2026-06-14P/E 18.2-22%Favorable on our tests (recalculated)
2026-06-16P/E 18.2-22%Favorable on our tests (recalculated)
2026-06-21P/E 18.2-22%Favorable on our tests (recalculated)
2026-07-02P/E 16.6-29%Strong on our tests (recalculated)
2026-07-06P/E 15.6-33%Strong on our tests (recalculated)
2026-07-09P/E 15.6-33%Strong on our tests (recalculated)
2026-07-12P/E 15.3-34%Strong on our tests (recalculated)
2026-07-13P/E 15.3-34%Strong on our tests (recalculated)
2026-07-14P/E 15.3-34%Strong on our tests (recalculated)
2026-07-20P/E 13.0-44%Strong on our tests (recalculated)
2026-07-22P/E 13.0-44%Strong on our tests (recalculated)
2026-07-25P/E 13.9-41%Strong on our tests (recalculated)
2026-07-27P/E 13.9-41%Strong on our tests (recalculated)
2026-07-31P/E 12.9-45%Strong on our tests (recalculated)
2026-08-03P/E 12.2-48%Strong on our tests
2026-08-07P/E 12.8-45%Strong on our tests (recalculated)
2026-08-10P/E 12.7-45%Strong on our tests
2026-08-14P/E 13.6-42%Strong on our tests (recalculated)
2026-08-17P/E 13.8-41%Strong on our tests
2026-08-21P/E 13.7-41%Strong on our tests (recalculated)
2026-08-24P/E 13.5-42%Strong on our tests
2026-08-27P/E 13.5-42%Strong on our tests (recalculated)
2026-08-28P/E 12.9-45%Strong on our tests (recalculated)
2026-08-30P/E 12.8-45%Strong on our tests (recalculated)
2026-08-31P/E 12.8-45%Strong on our tests
2026-09-05P/E 13.7-41%Strong on our tests (recalculated)
2026-09-07P/E 13.7-41%Strong on our tests
2026-09-12P/E 12.9-45%Strong on our tests (recalculated)
2026-09-14P/E 12.9-45%Strong on our tests
2026-09-19P/E 13.1-44%Strong on our tests (recalculated)
2026-09-21P/E 13.1-44%Strong on our tests
2026-09-26P/E 13.7-41%Strong on our tests (recalculated)
2026-09-28P/E 13.7-41%Mixed on our tests (across a rating rules change)
2026-10-03P/E 12.8-40%Favorable on our tests (recalculated)
2026-10-05P/E 12.8-40%Favorable on our tests ← now

Earnings moves: MU moved more than the options market implied in 0 of 1 recent tracked reports.

Frequently asked questions

Is Micron Technology stock overvalued?

At a blended P/E of 12.8 versus its historical normal P/E of 21.3, Micron Technology trades about 40% below its typical valuation, with a PEG of 0.39 on 32.6% forward growth. tickerseer currently rates it favorable on our tests.

What is Micron Technology's fair value and PEG?

Micron Technology trades at a blended P/E of 12.8 against a historical normal P/E of 21.3, a PEG of 0.39, and a forward growth estimate of 32.6%. Priced at its historical normal P/E of 21.3 on the same blended earnings, the 2026-10-02 close of $1,074.89 corresponds to about $1,790 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of Micron Technology changed?

tickerseer's rating has been favorable on our tests since 2026-06-03.

What is the analyst price target for Micron Technology?

The mean Wall Street price target for Micron Technology is $1,520.02 across 46 analysts, 46.7% above the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Semiconductors. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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