Micron (MU) is a Top-Ranked Momentum Stock: Should You Buy?
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Micron (MU)
Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions.
MU boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Micron has seen some interesting price action recently; the stock is down 7.3% over the past one week and up 3.8% over the past four weeks. And in the last one-year period, MU has lost 24.7%. As for the stock's trading volume, 28,719,050 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2022, eight analysts revised their earnings estimate higher in the last 60 days for MU, while the Zacks Consensus Estimate has increased $0.63 to $9.54 per share. MU also boasts an average earnings surprise of 6.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MU to their portfolios.
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Micron Technology, Inc. (MU) : Free Stock Analysis Report
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