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Micron (MU) Stock Moves -0.24%: What You Should Know

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Micron (MU - Free Report) closed at $58.70 in the latest trading session, marking a -0.24% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.46%.

Prior to today's trading, shares of the chipmaker had lost 16.5% over the past month. This has lagged the Computer and Technology sector's loss of 8.38% and the S&P 500's loss of 6.69% in that time.

Micron will be looking to display strength as it nears its next earnings release, which is expected to be June 30, 2022. The company is expected to report EPS of $2.45, up 30.32% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.69 billion, up 17.1% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $9.54 per share and revenue of $33.55 billion, which would represent changes of +57.43% and +21.1%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Micron currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, Micron is holding a Forward P/E ratio of 6.17. This represents a no noticeable deviation compared to its industry's average Forward P/E of 6.17.

Investors should also note that MU has a PEG ratio of 0.19 right now. 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. The Semiconductor Memory was holding an average PEG ratio of 0.19 at yesterday's closing price.

The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 3% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow MU in the coming trading sessions, be sure to utilize Zacks.com.


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