MU
Micron Technology, Inc.
MU has the edge over MXL overall, supported by stronger valuation and stronger fundamentals.
MXL
MaxLinear, Inc.
MXL's outlook is improving, though it still trails on the overall score.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
MXL Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Under pressure | |
| Stable |
MXL's revenue is currently strong, and its profitability and balance sheet are stable, but its cash flow is under pressure.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
MXL PE Valuation
MXL has no meaningful PE right now: it lost money over the past year.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for MU, with profitability improving.
MXL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for MXL, with profitability improving.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU has the edge over MXL on earnings quality, reporting a profit while its opponent remains loss making.
MXL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.06 | — |
| Q3 2026 | -$0.37 | +$1.72 |
| Q2 2026 | -$1.19 | +$1.28 |
| Q1 2026 | -$1.52 | +$1.11 |
| Q4 2025 | -$1.58 | +$1.35 |
| Q3 2025 | -$2.09 | +$0.65 |
| Q2 2025 | -$2.47 | -$0.14 |
| Q1 2025 | -$2.63 | -$0.72 |
| Q4 2024 | -$2.93 | -$2.02 |
MXL is still losing money, but far less than before: $0.37 per share over the past year, against $2.93 at its worst in late 2024.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over MXL on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU has the edge over MXL on profitability, with a higher operating margin.
MXL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $218.1M | +72% |
| Q2 2026 | $168.8M | +55% |
| Q1 2026 | $137.2M | +43% |
| Q4 2025 | $136.4M | +48% |
| Q3 2025 | $126.5M | +56% |
| Q2 2025 | $108.8M | +18% |
| Q1 2025 | $95.9M | +0.7% |
| Q4 2024 | $92.2M | -26% |
MXL's revenue is recovering but still below its 2022 peak: $218M last quarter, up 72% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +47 points |
| Q2 2026 | -2.5% | +20 points |
| Q1 2026 | -13% | +36 points |
| Q4 2025 | -11% | +34 points |
| Q3 2025 | -33% | +50 points |
| Q2 2025 | -23% | +22 points |
| Q1 2025 | -48% | +30 points |
| Q4 2024 | -45% | -11 points |
MXL's operating margin was 14% last quarter, up 47 points from the same quarter a year ago.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over MXL on cash generation, producing positive trailing cash flow while its opponent burns cash.
MXL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$19.5M | -544% |
| Q2 2026 | $2.5M | -73% |
| Q1 2026 | -$10.3M | +$3.1M |
| Q4 2025 | $6.7M | +$36.7M |
| Q3 2025 | $4.4M | +$39.3M |
| Q2 2025 | $9.3M | +$15M |
| Q1 2025 | -$13.4M | -276% |
| Q4 2024 | -$30M | -$12.2M |
MXL's free cash flow was −$21M over the past year, against −$30M the year before.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has the edge over MXL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
MXL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +381K shares |
| 1 year | +12% | +10.5M shares |
| 3 years | +20% | +16.5M shares |
| 5 years | +22% | +17.9M shares |
| Available history | +38% | +26.7M shares |
MXL has 98M diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $5.2M |
| Q1 2022 | $26.3M |
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU has the edge over MXL on leverage, with a lower net debt burden relative to earnings.
MXL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.6x | Moderate |
| Q4 2023 | -2.0x | Net Cash |
| Q3 2023 | -0.6x | Net Cash |
| Q2 2023 | -0.5x | Net Cash |
| Q1 2023 | -0.4x | Net Cash |
| Q4 2022 | -0.3x | Net Cash |
| Q3 2022 | -0.0x | Net Cash |
| Q2 2022 | 0.2x | Very low |
MXL's net debt is about 2.6 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
MXL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.8 | Neutral |
| Stochastic | 16.3 | Oversold |
MXL's weekly RSI is 46 (neutral) and its Stochastic is 16 (oversold).
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU is trading at 11x earnings, a 61% discount to the Technology sector's median of 28x.
MXL PE vs Technology Sector
| Metric | MXL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
MXL has no meaningful PE right now: it lost money over the past year.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
MXL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.8 | 22% below |
| 20 week MA | $75.4 | 22% below |
| 50 week MA | $55.0 | 7.2% above |
| 100 week MA | $35.0 | 69% above |
| 200 week MA | $28.7 | 106% above |
MXL has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 106% above its 200-week average.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU's yearly returns have swung widely, from +221% in 2025 to −47% in 2022. It's up 180% so far in 2026.
MXL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.4 | $36.7 | +71% |
| 2021 | $36.7 | $74.1 | +102% |
| 2022 | $74.1 | $33.9 | -54% |
| 2023 | $33.9 | $23.8 | -30% |
| 2024 | $23.8 | $20.5 | -14% |
| 2025 | $20.5 | $17.7 | -14% |
| 2026 YTD | $17.7 | $59.0 | +233% |
MXL has the edge over MU on returns for 2026, with the stronger performance.