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Micron (MU) Gains As Market Dips: What You Should Know
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Micron (MU - Free Report) closed at $54.09 in the latest trading session, marking a +0.09% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Prior to today's trading, shares of the chipmaker had gained 7.86% over the past month. This has outpaced the Computer and Technology sector's gain of 0.71% and the S&P 500's gain of 4.98% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 44.2% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $0.18 per share and revenue of $19.43 billion. These results would represent year-over-year changes of -97.84% and -36.82%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 106.77% lower. Micron is currently a Zacks Rank #4 (Sell).
Digging into valuation, Micron currently has a Forward P/E ratio of 300.22. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 300.22.
We can also see that MU currently has a PEG ratio of 77.78. 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 77.78 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 241, putting it in the bottom 5% 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) Gains As Market Dips: What You Should Know
Micron (MU - Free Report) closed at $54.09 in the latest trading session, marking a +0.09% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.13%.
Prior to today's trading, shares of the chipmaker had gained 7.86% over the past month. This has outpaced the Computer and Technology sector's gain of 0.71% and the S&P 500's gain of 4.98% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 44.2% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $0.18 per share and revenue of $19.43 billion. These results would represent year-over-year changes of -97.84% and -36.82%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 106.77% lower. Micron is currently a Zacks Rank #4 (Sell).
Digging into valuation, Micron currently has a Forward P/E ratio of 300.22. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 300.22.
We can also see that MU currently has a PEG ratio of 77.78. 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 77.78 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 241, putting it in the bottom 5% 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.