---
title: Micron Technology (MU) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/mu
ticker: MU
as_of: 2026-10-17
sector: Technology
industry: Semiconductors
---
# Micron Technology (MU)

Micron Technology (MU) closed at $878.84 on Oct 16, 2026, overvalued by 195% vs its model value of $297.76 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $878.84 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $297.76 |
| Price vs model | overvalued by 195% vs model |
| Range of that model | $217.78 – $446.73 |
| Market value | $994.3B |
| P/E (fiscal 2026) | 11.8 |
| Net margin (fiscal 2026) | 63.8% |
| Free cash flow (fiscal 2026) | $59.0B |
| Dividend yield (trailing twelve months) | 0.06% |
| Beta | 2.23 |
| Cost of capital (WACC) | 12.59% |
| Business classification | Cyclical (High revenue growth (~130% recent), High profitability (64% net margin), Highly cyclical earnings, Strong FCF yield (5.9%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Largest companies | #12 | $994.3B | https://sweetvaluelab.com/lists/largest-companies |
| Lowest P/E | #31 | 11.8× | https://sweetvaluelab.com/lists/lowest-pe |
| Best performing this year | #4 | +207.9% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.06% |
| Dividends per share, last 12 months | $0.57 |
| Dividends / free cash flow (fiscal 2026) | 1.0% |
| Raised | — |
| Growth over 4 years | 7.1% a year |
| Latest payment | $0.15, ex-date Oct 14, 2026, paid Oct 29, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 7, 2022 | $0.43 |
| To Oct 6, 2023 | $0.46 |
| To Oct 7, 2024 | $0.46 |
| To Oct 3, 2025 | $0.46 |
| Trailing twelve months (to Oct 14, 2026) | $0.57 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $297.76 | $217.78 | $446.73 |
| DCF · Perpetuity growth · 10y | cross check | $421.06 | $312.54 | $620.51 |
| DCF · EBITDA exit · 5y | cross check | $0.00 | $0.00 | $0.00 |
| DCF · EBITDA exit · 10y | cross check | $0.00 | $0.00 | $0.00 |
| P/E · peers | cross check | $0.00 | $0.00 | $0.00 |
| P/E · own history | cross check | $2,313.13 | $1,330.53 | $15,483.34 |
| PEG | sanity check | $4,357.82 | $4,357.82 | $4,357.82 |
| EV/EBITDA · peers | cross check | $0.00 | $0.00 | $0.00 |
| EV/Revenue · peers | cross check | $0.00 | $0.00 | $0.00 |
| Earnings power value | cross check | $174.24 | $158.78 | $193.89 |
| Dividend discount | cross check | $7.47 | $5.72 | $10.18 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 18 open-market sales ($3.7M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 13, 2026 | MEHROTRA SANJAY | President and CEO | Tax withholding | 34,438 | $34.1M |
| Oct 13, 2026 | MEHROTRA SANJAY | President and CEO | Grant / award | 21,233 | $0 |
| Oct 13, 2026 | MEHROTRA SANJAY | President and CEO | Tax withholding | 47,143 | $46.6M |
| Oct 13, 2026 | MEHROTRA SANJAY | President and CEO | Grant / award | 99,791 | $0 |
| Oct 13, 2026 | MEHROTRA SANJAY | President and CEO | Option/RSU exercise | 82,721 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 9, 2026 | 10-K | Annual report | https://www.sec.gov/Archives/edgar/data/723125/000072312526000023/mu-20260903.htm |
| Sep 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/723125/000072312526000018/mu-20260930.htm |
| Aug 26, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/723125/000110465926101067/tm2624017d1_8k.htm |
| Jun 25, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/723125/000072312526000015/mu-20260528.htm |
| Jun 24, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/723125/000072312526000013/mu-20260624.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Tepper | 2026-06-30 | 975,000 | $1.1B |
| Bridgewater | 2026-06-30 | 116,666 | $134.7M |
| Soros | 2026-06-30 | 22,422 | $25.9M |
| Ruane Cunniff | 2026-06-30 | 2,162 | $2.5M |

7 tracked managers in all.

## About

Micron Technology, Inc. is a global leader specializing in the development, manufacture, and sale of advanced semiconductor memory and storage solutions. Its operations are structured across four primary business segments: Compute and Networking, Mobile, Storage, and Embedded. The company's product portfolio encompasses a range of memory and data storage technologies. These include high-speed, low-latency Dynamic Random Access Memory (DRAM) components for rapid data retrieval; non-volatile, re-programmable NAND flash storage devices; and fast-read, non-volatile, re-writable NOR memory chips. These innovative solutions are offered under its well-known Micron and Crucial brands, as well as through private label partnerships. Micron's extensive offerings cater to a diverse array of markets and applications. This includes critical infrastructure like cloud servers and enterprise data centers…

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Source: https://sweetvaluelab.com/stocks/mu (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.