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Micron (MU) Stock Sinks As Market Gains: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $52.10, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.2%.
Coming into today, shares of the chipmaker had lost 12.66% in the past month. In that same time, the Computer and Technology sector lost 14.62%, while the S&P 500 lost 9.94%.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. This is expected to be September 29, 2022. On that day, Micron is projected to report earnings of $1.42 per share, which would represent a year-over-year decline of 41.32%. Meanwhile, our latest consensus estimate is calling for revenue of $6.94 billion, down 16.16% from the prior-year quarter.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 remained stagnant within the past month. Micron is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Micron is holding a Forward P/E ratio of 11.31. For comparison, its industry has an average Forward P/E of 11.31, which means Micron is trading at a no noticeable deviation to the group.
Meanwhile, MU's PEG ratio is currently 2.93. 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 2.93 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 250, putting it in the bottom 1% 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) Stock Sinks As Market Gains: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $52.10, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.2%.
Coming into today, shares of the chipmaker had lost 12.66% in the past month. In that same time, the Computer and Technology sector lost 14.62%, while the S&P 500 lost 9.94%.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. This is expected to be September 29, 2022. On that day, Micron is projected to report earnings of $1.42 per share, which would represent a year-over-year decline of 41.32%. Meanwhile, our latest consensus estimate is calling for revenue of $6.94 billion, down 16.16% from the prior-year quarter.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 remained stagnant within the past month. Micron is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Micron is holding a Forward P/E ratio of 11.31. For comparison, its industry has an average Forward P/E of 11.31, which means Micron is trading at a no noticeable deviation to the group.
Meanwhile, MU's PEG ratio is currently 2.93. 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 2.93 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 250, putting it in the bottom 1% 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.