Micron Technology, Inc. (MU) has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company's quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. The company's mission is to be the most efficient and innovative global provider of semiconductor memory solutions.

When they last reported earnings at the end of June, the company posted a nice beat of estimates. EPS came in at $1.62 vs. $1.51 expected while revenue came in at $5.57 billion vs. $5.41 billion expected. At that time, CEO Sanjay Mehrotra said he saw important opportunities moving forward--"the global trends taking shape today, including machine learning and big data analytics, are exciting and create significant opportunities for Micron."

The firm has been helped recently by lower production costs for its popular DRAM and NAND chips along with higher prices in the markets for their products. They will report their Q3 earnings in early September.

ValuEngine continues its STRONG BUY recommendation on MICRON TECH for 2017-08-08. Based on the information we have gathered and our resulting research, we feel that MICRON TECH has the probability to OUTPERFORM average market performance for the next year. The company exhibits ATTRACTIVE P/E Ratio and Momentum.

Valuation & Rankings
Valuation	20.93% undervalued	Valuation Rank(?)	82
1-M Forecast Return	1.50%	1-M Forecast Return Rank	100
12-M Return	100.00%	Momentum Rank(?)	96
Sharpe Ratio	0.74	Sharpe Ratio Rank(?)	83
5-Y Avg Annual Return	30.21%	5-Y Avg Annual Rtn Rank	94
Volatility	40.65%	Volatility Rank(?)	40
Expected EPS Growth	61.17%	EPS Growth Rank(?)	77
Market Cap (billions)	30.99	Size Rank	96
Trailing P/E Ratio	8.06	Trailing P/E Rank(?)	96
Forward P/E Ratio	5.00	Forward P/E Ratio Rank	97
PEG Ratio	0.13	PEG Ratio Rank	79
Price/Sales	1.78	Price/Sales Rank(?)	52
Market/Book	2.01	Market/Book Rank(?)	54
Beta	1.86	Beta Rank	14
Alpha	0.48	Alpha Rank	94