Micron (MU) Stock: Jim Cramer Calls It “Radically Undervalued” After 700% Rally

TLDR

• Jim Cramer called Micron “radically undervalued” and a “national treasure” during an Aug. 20 Mad Money segment in Boise
• MU closed at $974.33, up roughly 4% on the day and over 700% in the past year, trading at about 6x forward earnings
• Fiscal Q3 revenue hit $41.46 billion, up 346% year over year, with adjusted EPS of $25.11, beating estimates by $3.72
• CEO Sanjay Mehrotra and other executives sold a combined 177,179 MU stock worth around $181.8 million over the past quarter
• BMO Capital Markets initiated coverage with an “outperform” rating and a $1,300 price target; Bank of America set a target of $1,550

MU stock opened at $974.33 on Friday, up around 4% on the day. The stock has surged more than 700% over the past 12 months, with a 12-month low of $114.25 and a high of $1,255.00.

Micron Technology, Inc., MU

Jim Cramer visited Micron’s Boise headquarters on Aug. 20 and made his case on Mad Money. He called the chipmaker “radically undervalued” despite the massive run-up, pointing to its low forward price-to-earnings ratio of around six times.

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