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Micron (MU) Gains As Market Dips: What You Should Know
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In the latest trading session, Micron (MU - Free Report) closed at $79.02, marking a +1.75% move from the previous day. This change outpaced the S&P 500's 0.11% loss on the day.
Prior to today's trading, shares of the chipmaker had lost 4.39% over the past month. This has lagged the Computer and Technology sector's gain of 7.15% and the S&P 500's gain of 2.23% in that time.
Wall Street will be looking for positivity from MU as it approaches its next earnings report date. This is expected to be June 30, 2021. On that day, MU is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 103.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.16 billion, up 31.75% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $27.02 billion. These results would represent year-over-year changes of +96.11% and +26.04%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.54% higher within the past month. MU currently has a Zacks Rank of #2 (Buy).
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 13.99. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 13.99.
Also, we should mention that MU has a PEG ratio of 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor Memory industry currently had an average PEG ratio of 0.89 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron (MU) Gains As Market Dips: What You Should Know
In the latest trading session, Micron (MU - Free Report) closed at $79.02, marking a +1.75% move from the previous day. This change outpaced the S&P 500's 0.11% loss on the day.
Prior to today's trading, shares of the chipmaker had lost 4.39% over the past month. This has lagged the Computer and Technology sector's gain of 7.15% and the S&P 500's gain of 2.23% in that time.
Wall Street will be looking for positivity from MU as it approaches its next earnings report date. This is expected to be June 30, 2021. On that day, MU is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 103.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.16 billion, up 31.75% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $27.02 billion. These results would represent year-over-year changes of +96.11% and +26.04%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.54% higher within the past month. MU currently has a Zacks Rank of #2 (Buy).
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 13.99. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 13.99.
Also, we should mention that MU has a PEG ratio of 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor Memory industry currently had an average PEG ratio of 0.89 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.