Understanding Micron Technology, Inc. (MU): Key Insights Beyond Its Trending Status

Micron's Performance and Future Prospects: An Analysis

Micron (MU) has recently garnered attention on Zacks.com as one of the most searched stocks. Let's delve into some key factors that may impact the stock's performance in the near future.

Stock Performance:

Over the past month, Micron's shares have shown a positive return of +3%, outperforming the Zacks S&P 500 composite's +1.2% change. Meanwhile, the Zacks Semiconductor Memory industry, which Micron is a part of, has experienced a gain of 4.1%. The question arises: What might be the stock's future direction?

Earnings Estimate Revisions:

Zacks prioritizes evaluating changes in a company's earnings projection to determine its fair value. Micron is expected to post a loss of $0.28 per share for the current quarter, reflecting a year-over-year change of +85.3%. Over the last 30 days, the Zacks Consensus Estimate has positively changed by +43.6%. The consensus earnings estimate of -$0.44 for the current fiscal year indicates a year-over-year change of +90.1%, with a +49% change over the last 30 days. Looking ahead to the next fiscal year, the consensus earnings estimate of $7.10 indicates a remarkable change of +1,712.6%, with a +15.2% change over the past month. The Zacks Rank #2 (Buy) for Micron is a result of these positive changes in the consensus estimate, coupled with three other factors related to earnings estimates.

Projected Revenue Growth:

Earnings growth is crucial, but revenue growth is equally important for a company's financial health. Micron's consensus sales estimate for the current quarter of $5.32 billion indicates a year-over-year change of +44%. The estimates for the current and next fiscal years are $22.28 billion and $32.38 billion, representing +43.4% and +45.3% changes, respectively.

Last Reported Results and Surprise History:

In the last reported quarter, Micron reported revenues of $4.73 billion, reflecting a year-over-year change of +15.7%. The EPS for the same period was -$0.95, compared to -$0.04 a year ago. The reported revenues surpassed the Zacks Consensus Estimate by +1.47%, with an EPS surprise of +4.04%. Over the last four quarters, Micron exceeded consensus EPS estimates three times and consensus revenue estimates three times.

Valuation:

Considering a stock's valuation is essential for efficient investment decisions. Micron is graded F on the Zacks Value Style Score, indicating that it is trading at a premium to its peers. This suggests investors should carefully assess whether the current stock price accurately reflects the intrinsic value and growth prospects of the company.

In conclusion, Micron's recent positive stock performance, coupled with favorable changes in earnings estimates and robust revenue growth, positions it as a stock worth considering. However, potential investors should be cautious of its premium valuation compared to peers, emphasizing the need for a thorough evaluation of its current stock price.

save stock

上证 指数

tsm stock

is the stock market open on mlk day

is the stock market open today

hang seng index

stock market holidays

is stock market open today

chinese stock market