Micron (MU - Free Report) closed at $44.08 in the latest trading session, marking a +1.1% move from the prior day. This change outpaced the S&P 500's 0.73% loss on the day. Elsewhere, the Dow lost 0.37%, while the tech-heavy Nasdaq lost 1.32%.
Heading into today, shares of the chipmaker had gained 10.13% over the past month, outpacing the Computer and Technology sector's gain of 1.71% and the S&P 500's loss of 0.27% in that time.
MU will be looking to display strength as it nears its next earnings release. In that report, analysts expect MU to post earnings of $0.46 per share. This would mark a year-over-year decline of 86.97%. Meanwhile, our latest consensus estimate is calling for revenue of $4.50 billion, down 46.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.22 per share and revenue of $23.04 billion. These totals would mark changes of -47.95% and -24.2%, respectively, from last year.
Any recent changes to analyst estimates for MU should also be noted by investors. These revisions help to show the ever-changing nature of near-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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. MU is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that MU has a Forward P/E ratio of 7.01 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 7.01.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 250, putting it in the bottom 3% 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.