Primecap Management Co. CA Takes $22.18 Billion Position in Micron Technology, Inc. $MU

Primecap Management Co. CA bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,217,236 shares of the semiconductor manufacturer’s stock, valued at approximately $22,182,263,000. Micron Technology makes up 13.1% of Primecap Management Co. CA’s portfolio, making the stock its largest position. Primecap Management Co. CA owned 1.70% of Micron Technology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new stake in Micron Technology in the 2nd quarter worth approximately $46,000. RHL Group LLC purchased a new position in Micron Technology in the 2nd quarter worth approximately $47,000. Signature Resources Capital Management LLC increased its holdings in shares of Micron Technology by 1,125.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 49 shares of the semiconductor manufacturer’s stock worth $57,000 after buying an additional 45 shares during the last quarter. Davis Capital Management increased its holdings in shares of Micron Technology by 510.0% in the 2nd quarter. Davis Capital Management now owns 61 shares of the semiconductor manufacturer’s stock worth $70,000 after buying an additional 51 shares during the last quarter. Finally, Glynn Capital Management LLC raised its position in shares of Micron Technology by 40.9% during the 2nd quarter. Glynn Capital Management LLC now owns 62 shares of the semiconductor manufacturer’s stock valued at $72,000 after buying an additional 18 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. Susquehanna lifted their price objective on shares of Micron Technology from $1,750.00 to $2,000.00 and gave the stock a “positive” rating in a report on Thursday, June 25th. Barclays raised their price target on Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Morgan Stanley lifted their price target on Micron Technology from $1,050.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. ThinkEquity reiterated a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of Micron Technology in a research report on Friday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $1,295.63.

Micron Technology Price Performance

MU stock opened at $1,016.59 on Friday. The firm has a market cap of $1.15 trillion, a P/E ratio of 23.02, a P/E/G ratio of 0.61 and a beta of 2.22. The firm’s fifty day moving average is $935.15 and its 200 day moving average is $734.51. Micron Technology, Inc. has a 52 week low of $125.66 and a 52 week high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The business had revenue of $41.46 billion during the quarter, compared to the consensus estimate of $35.91 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm’s revenue for the quarter was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Research analysts predict that Micron Technology, Inc. will post 72.93 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology’s payout ratio is 1.36%.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: AI memory demand remains the key catalyst. Micron is reportedly increasing production capacity for more profitable, high-demand memory products used in AI servers, including high-bandwidth memory (HBM). Investors see sustained hyperscaler spending as supporting pricing, revenue and margins. Micron is doubling down on AI memory chips
• Positive Sentiment: Memory stocks led the market. Micron and other memory-related companies benefited from renewed enthusiasm for AI infrastructure, the release of a new OpenAI model and expectations that the NAND pricing cycle may be strengthening. Memory and AI-related stocks lead the market
• Positive Sentiment: Analyst upside forecasts added support. Lynx Equity Strategies said volatility has normalized and maintained an aggressive price target of $1,325 for MU, implying substantial potential upside from recent levels. Lynx Equity sees Micron and SanDisk breakout
• Positive Sentiment: Recent operating results provide fundamental support. Micron’s latest reported quarter significantly exceeded earnings and revenue expectations, with revenue up sharply year over year. The company also issued strong fourth-quarter guidance, reinforcing the view that AI-related memory shortages are translating into exceptional profitability.
• Neutral Sentiment: Long-term customer agreements may reduce—but not eliminate—cyclicality. Reports highlight 16 strategic agreements extending through 2030, some with price floors or bands. These contracts could improve earnings visibility, although investors remain concerned that new industry capacity could eventually pressure pricing. Micron’s contracts reveal the next AI bottleneck
• Negative Sentiment: Competition and execution risks remain. Chinese chipmaker CXMT is gaining DRAM market share, while planned capacity investments by Asian producers could eventually create oversupply. Micron also faces potential labor disruption in Taiwan after unions sought substantially higher compensation, creating a risk to costs and supply continuity. Chinese chipmaker CXMT gains DRAM share

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the sale, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. This represents a 13.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April Arnzen sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the transaction, the executive vice president owned 85,737 shares in the company, valued at approximately $92,933,763.78. The trade was a 31.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 177,204 shares of company stock worth $182,156,264 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.