In the latest trading session, Micron (MU) closed at $42.24, marking a +0.48% move from the previous day. This move outpaced the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 0.09%.Prior to today's trading, shares of the chipmaker had lost 3.07% over the past month. This has was narrower than the Computer and Technology sector's loss of 5.18% and the S&P 500's loss of 5.58% in that time.MU will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.46, down 86.97% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.50 billion, down 46.69% from the year-ago period.MU's full-year Zacks Consensus Estimates are calling for earnings of $6.22 per share and revenue of $23.04 billion. These results would represent year-over-year changes of -47.95% and -24.2%, respectively.It is also important to note the recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.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 sporting a Zacks Rank of #3 (Hold).Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 6.76. Its industry sports an average Forward P/E of 6.76, so we one might conclude that MU is trading at a no noticeable deviation comparatively.The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.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.