Is Micron Technology, Inc. overvalued or undervalued?

As of 20 March 2025, Micron Technology, Inc. has moved from a fair to an attractive valuation grade. The company appears to be undervalued based on its current metrics. Key ratios include a P/E ratio of 28, an EV to EBITDA of 9.54, and a PEG ratio of 0.13, indicating strong growth potential relative to its price.
In comparison to its peers, Micron's P/E ratio of 31.36 is lower than NVIDIA Corp.'s 46.24, which is considered fair, while Broadcom Inc. is deemed expensive with a P/E of 81.42. Additionally, Micron's EV to EBITDA ratio of 9.54 is significantly more favorable than the industry average, suggesting that it is trading at a discount relative to its earnings potential. Despite a recent dip in its stock price, Micron has outperformed the S&P 500 year-to-date with a return of 45.06% compared to the index's 2.44%.