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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 $77.16, marking a +1.93% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%.
Heading into today, shares of the chipmaker had lost 6.39% over the past month, outpacing the Computer and Technology sector's loss of 10.02% and lagging the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be March 29, 2022. In that report, analysts expect Micron to post earnings of $1.95 per share. This would mark year-over-year growth of 98.98%. Meanwhile, our latest consensus estimate is calling for revenue of $7.51 billion, up 20.44% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of $8.95 per share and revenue of $32.03 billion. These results would represent year-over-year changes of +47.69% and +15.63%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.52% higher. Micron is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 8.46. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.46.
Investors should also note that MU has a PEG ratio of 0.35 right now. 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. Semiconductor Memory stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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
In the latest trading session, Micron (MU - Free Report) closed at $77.16, marking a +1.93% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%.
Heading into today, shares of the chipmaker had lost 6.39% over the past month, outpacing the Computer and Technology sector's loss of 10.02% and lagging the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be March 29, 2022. In that report, analysts expect Micron to post earnings of $1.95 per share. This would mark year-over-year growth of 98.98%. Meanwhile, our latest consensus estimate is calling for revenue of $7.51 billion, up 20.44% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of $8.95 per share and revenue of $32.03 billion. These results would represent year-over-year changes of +47.69% and +15.63%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.52% higher. Micron is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 8.46. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.46.
Investors should also note that MU has a PEG ratio of 0.35 right now. 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. Semiconductor Memory stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.