Micron (MU - Free Report) closed at $45.16 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily loss of 0.35%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the chipmaker had lost 9.98% in the past month. In that same time, the Computer and Technology sector gained 1.48%, while the S&P 500 gained 2.47%.
MU will be looking to display strength as it nears its next earnings release, which is expected to be December 18, 2018. In that report, analysts expect MU to post earnings of $2.90 per share. This would mark year-over-year growth of 18.37%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.69 per share and revenue of $31.50 billion, which would represent changes of -10.54% and +3.64%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MU. 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 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.
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. The Zacks Consensus EPS estimate has moved 5.1% lower within the past month. MU is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 4.18. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 4.18.
Meanwhile, MU's PEG ratio is currently 0.51. 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 0.51 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 251, which puts it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.