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Micron (MU) Outpaces Stock Market Gains: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $88.01, moving +1.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.5%.
Coming into today, shares of the chipmaker had gained 6.37% in the past month. In that same time, the Computer and Technology sector gained 10.12%, while the S&P 500 gained 3.18%.
MU will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.71, up 57.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.81 billion, up 21.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.86 per share and revenue of $24.80 billion. These totals would mark changes of +36.4% and +15.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MU. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MU is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 22.42. This represents a no noticeable deviation compared to its industry's average Forward P/E of 22.42.
Meanwhile, MU's PEG ratio is currently 1.77. 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 industry currently had an average PEG ratio of 1.77 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 114, putting it in the top 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron (MU) Outpaces Stock Market Gains: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $88.01, moving +1.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.5%.
Coming into today, shares of the chipmaker had gained 6.37% in the past month. In that same time, the Computer and Technology sector gained 10.12%, while the S&P 500 gained 3.18%.
MU will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.71, up 57.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.81 billion, up 21.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.86 per share and revenue of $24.80 billion. These totals would mark changes of +36.4% and +15.69%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MU. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MU is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 22.42. This represents a no noticeable deviation compared to its industry's average Forward P/E of 22.42.
Meanwhile, MU's PEG ratio is currently 1.77. 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 industry currently had an average PEG ratio of 1.77 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 114, putting it in the top 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.