Micron Technology, Inc. (MU) Hits Fresh High: Is There Still Room to Run?

Have you been paying attention to shares of Micron (MU)? Shares have been on the move with the stock up 22.4% over the past month. The stock hit a new 52-week high of $294.5 in the previous session. Micron has gained 249.8% since the start of the year compared to the 27.4% gain for the Zacks Computer and Technology sector and the 89.2% return for the Zacks Computer - Integrated Systems industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on December 17, 2025, Micron reported EPS of $4.78 versus consensus estimate of $3.91.For the current fiscal year, Micron is expected to post earnings of $31.36 per share on $70.76 in revenues. This represents a 278.29% change in EPS on a 89.3% change in revenues. For the next fiscal year, the company is expected to earn $39.58 per share on $86.89 in revenues. This represents a year-over-year change of 26.22% and 22.8%, respectively.Valuation MetricsMicron may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.Micron has a Value Score of C. The stock's Growth and Momentum Scores are A and C, respectively, giving the company a VGM Score of A.In terms of its value breakdown, the stock currently trades at 9.4X current fiscal year EPS estimates, which is not in-line with the peer industry average of 25.1X. On a trailing cash flow basis, the stock currently trades at 19.4X versus its peer group's average of 22.8X. Additionally, the stock has a PEG ratio of 0.18. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.Zacks RankWe also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Micron currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Micron fits the bill. Thus, it seems as though Micron shares could still be poised for more gains ahead.#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks