Investors focused on the Computer and Technology space have likely heard of Micron Technology (MU), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
Micron Technology is one of 620 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MU is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MU’s full-year earnings has moved 42.45% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that MU has returned about 18.99% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 14.74% on average. This shows that Micron Technology is outperforming its peers so far this year.
Looking more specifically, MU belongs to the Semiconductor Memory industry, a group that includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have gained 18.99% this year, meaning that MU is performing on par in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MU. The stock will be looking to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
To read this article on Zacks.com click here.