It has been a tough year for (NASDAQ: MU). The memory chipmaker's stock closed at its all-time high last January, but subsequently tumbled more than 30% as investors fretted over the cyclical slowdown of the semiconductor market.

But even after that steep pullback, Micron still doesn't seem like a screaming bargain at 46 times forward earnings and five times this year's sales. These three bright red flags could also prevent value-seeking investors from rushing back.

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Source Fool.com