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Micron (MU) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest market close, Micron (MU - Free Report) reached $95.56, with a +1.15% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.58%.
Heading into today, shares of the chipmaker had gained 11.67% over the past month, outpacing the Computer and Technology sector's gain of 1.47% and the S&P 500's gain of 2.94% in that time.
Investors will be eagerly watching for the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 20, 2024. The company's earnings per share (EPS) are projected to be -$0.28, reflecting an 85.34% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.32 billion, indicating a 44.1% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.43 per share and a revenue of $22.18 billion, demonstrating changes of +90.34% and +42.76%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Micron. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Micron is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Micron (MU - Free Report) reached $95.56, with a +1.15% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.58%.
Heading into today, shares of the chipmaker had gained 11.67% over the past month, outpacing the Computer and Technology sector's gain of 1.47% and the S&P 500's gain of 2.94% in that time.
Investors will be eagerly watching for the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 20, 2024. The company's earnings per share (EPS) are projected to be -$0.28, reflecting an 85.34% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.32 billion, indicating a 44.1% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.43 per share and a revenue of $22.18 billion, demonstrating changes of +90.34% and +42.76%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Micron. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Micron is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.