Micron Stock is Up over 133% From Its Lows - But Is MU Still Undervalued?

Micron Technology (MU) stock is up 133% from its March 30 low of $321.80, but MU could still be cheap based on its projected free cash flow. Moreover, analysts have raised their price targets. One play is to short out-of-the-money (OTM) put options.

MU closed at $751.00 per share on Friday, May 22, down from a recent peak of $803.63 on May 13. But it could be worth almost 13% more at almost $844, as this article will show.