After being a top ranked stock for months in the new screening tool, Micron Technology (MU) fell in the ranks in January due to stock weakness towards the end of 2017. However, the stock has stabilized into a natural trading range, and as such its technical have improved, and combined with a solid 83 fundamental ranking, MU currently gets an overall ranking of 89 from InvestorsObserver’s Stock Score Report. Chip makers were hot in 2017, and MU enjoyed strong gains before some profit taking pushed stocks lower at the tail end of the year. MU’s valuation remains attractive, with a P/E of 6.6, and earnings forecast to rise by 27.2% per annum over the next five years. The low valuation and high growth estimates make MU very attractive. The stock is trading at $42.52, and analysts have an average price target of $56.15.
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