10 Most Undervalued Semiconductor Stocks to Buy Now

2. Micron Technology, Inc. (NASDAQ:MU)

Forward P/E as of March 3: ~12.7x

Number of Hedge Fund Holders: 94

Micron Technology, Inc. (NASDAQ:MU) is engaged in designing, developing, manufacturing, and selling memory and storage products. UBS analyst Timothy Arcuri reiterated a “Buy” rating on the company’s stock, maintaining a price objective of $125.00. The rating was followed by several industry checks on pricing, resulting in adjustments in the model. Amidst near-term inventory challenges, the analyst expects a return to modest undersupply in the DRAM market by Q4 2025 and into CY 2026. The analyst expressed confidence in Micron Technology, Inc. (NASDAQ:MU)’s High Bandwidth Memory (HBM) roadmap.

Furthermore, the company’s broader narrative remains unchanged. As per the analyst, Micron Technology, Inc. (NASDAQ:MU) has managed to establish a leading position in technology, and the progression of its HBM technology continues to divert wafers from conventional PC and smartphone memory markets. The company’s leadership in HBM technology places it well for significant long-term growth and profitability. Therefore, the broader semiconductor market continues to witness higher demand for memory and storage solutions, thanks to the advancements in technologies such as Al, cloud computing, 5G networks, IoT and data centers. Micron Technology, Inc. (NASDAQ:MU), considering its leading market position, remains well-positioned to reap the benefits of these elevated demand trends.