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Micron (MU) Gains As Market Dips: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $50.98, moving +1.53% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 1.27%.
Heading into today, shares of the chipmaker had gained 13.98% over the past month, outpacing the Computer and Technology sector's gain of 0.69% and the S&P 500's gain of 0.6% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be September 29, 2020. In that report, analysts expect MU to post earnings of $1 per share. This would mark year-over-year growth of 78.57%. Our most recent consensus estimate is calling for quarterly revenue of $5.91 billion, up 21.38% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MU. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.7% lower. MU is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that MU has a Forward P/E ratio of 14.32 right now. Its industry sports an average Forward P/E of 14.32, so we one might conclude that MU is trading at a no noticeable deviation comparatively.
Also, we should mention that MU has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 1.4 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 251, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Micron (MU) Gains As Market Dips: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $50.98, moving +1.53% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 1.27%.
Heading into today, shares of the chipmaker had gained 13.98% over the past month, outpacing the Computer and Technology sector's gain of 0.69% and the S&P 500's gain of 0.6% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be September 29, 2020. In that report, analysts expect MU to post earnings of $1 per share. This would mark year-over-year growth of 78.57%. Our most recent consensus estimate is calling for quarterly revenue of $5.91 billion, up 21.38% from the year-ago period.
It is also important to note the recent changes to analyst estimates for MU. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.7% lower. MU is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that MU has a Forward P/E ratio of 14.32 right now. Its industry sports an average Forward P/E of 14.32, so we one might conclude that MU is trading at a no noticeable deviation comparatively.
Also, we should mention that MU has a PEG ratio of 1.4. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 1.4 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 251, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.