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Micron (MU) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Micron (MU - Free Report) closed at $83.29, marking a -1.26% move from the previous day. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the chipmaker had gained 9.86% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 lost 0.13%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be December 20, 2021. In that report, analysts expect Micron to post earnings of $2.10 per share. This would mark year-over-year growth of 169.23%. Meanwhile, our latest consensus estimate is calling for revenue of $7.66 billion, up 32.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.84 per share and revenue of $31.34 billion, which would represent changes of +45.87% and +13.13%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Micron is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Micron has a Forward P/E ratio of 9.54 right now. Its industry sports an average Forward P/E of 9.54, so we one might conclude that Micron is trading at a no noticeable deviation comparatively.
Meanwhile, MU's PEG ratio is currently 0.42. 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. Semiconductor Memory stocks are, on average, holding a PEG ratio of 0.42 based on yesterday's closing prices.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Micron (MU) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Micron (MU - Free Report) closed at $83.29, marking a -1.26% move from the previous day. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the chipmaker had gained 9.86% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 lost 0.13%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be December 20, 2021. In that report, analysts expect Micron to post earnings of $2.10 per share. This would mark year-over-year growth of 169.23%. Meanwhile, our latest consensus estimate is calling for revenue of $7.66 billion, up 32.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.84 per share and revenue of $31.34 billion, which would represent changes of +45.87% and +13.13%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Micron is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Micron has a Forward P/E ratio of 9.54 right now. Its industry sports an average Forward P/E of 9.54, so we one might conclude that Micron is trading at a no noticeable deviation comparatively.
Meanwhile, MU's PEG ratio is currently 0.42. 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. Semiconductor Memory stocks are, on average, holding a PEG ratio of 0.42 based on yesterday's closing prices.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.