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Micron (MU) Stock Sinks As Market Gains: What You Should Know
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In the latest close session, Micron (MU - Free Report) was down 4.81% at $241.11. The stock trailed the S&P 500, which registered a daily gain of 0.21%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Heading into today, shares of the chipmaker had gained 31.4% over the past month, outpacing the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 4.36%.
The investment community will be closely monitoring the performance of Micron in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.75, reflecting a 109.5% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.51 billion, indicating a 43.7% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.22 per share and revenue of $53.27 billion, indicating changes of +95.66% and +42.51%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Micron presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 15.62. This signifies a discount in comparison to the average Forward P/E of 26.64 for its industry.
We can also see that MU currently has a PEG ratio of 0.55. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computer - Integrated Systems industry was having an average PEG ratio of 1.2.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 11, placing it within the top 5% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.
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Micron (MU) Stock Sinks As Market Gains: What You Should Know
In the latest close session, Micron (MU - Free Report) was down 4.81% at $241.11. The stock trailed the S&P 500, which registered a daily gain of 0.21%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Heading into today, shares of the chipmaker had gained 31.4% over the past month, outpacing the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 4.36%.
The investment community will be closely monitoring the performance of Micron in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.75, reflecting a 109.5% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.51 billion, indicating a 43.7% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.22 per share and revenue of $53.27 billion, indicating changes of +95.66% and +42.51%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Micron presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 15.62. This signifies a discount in comparison to the average Forward P/E of 26.64 for its industry.
We can also see that MU currently has a PEG ratio of 0.55. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Computer - Integrated Systems industry was having an average PEG ratio of 1.2.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 11, placing it within the top 5% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.