Micron Technology, Inc.
In the published model solve dated 2026-Q2, anchored at $930.80, Micron Technology, Inc. (MU) is priced for +26.4% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed August 7, 2026 from SEC EDGAR filings.
• A memory shortage has repriced the whole product category: over the twelve months to late May 2026 Micron converted 65.6% of revenue into operating profit and earned a return on equity around 50.1%, figures no memory maker sustains through a full cycle. • Almost none of the gain is volume, which is the risk in one line: third-quarter DRAM sales rose 343% on average selling prices up in the low-260% range and bit shipments up only in the low-20% range [Source: Q3 FY2026 Form 10-Q]. • Capital sp
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2,932 institutional managers reported holding MU in 13F filings for the quarter ended 2026-03-31. Together they hold about 72% of the company; the top 10 hold 38%. 449 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 41.6M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MU's share count grew 0.6% over the past five years even with $4.95B spent on repurchases. It pays a dividend, and has for 5 years running; the current rate is $0.46 a share annually. Cash returned over the past three years: $1.60B in dividends and $950.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MU over the trailing three years: 2026: 3 buys totaling $7.82M. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MU's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-06-30 | -3.7% | +11.5% |
| 2023-10-07 | -4.0% | +7.2% |
| 2023-12-22 | +4.0% | -0.6% |
| 2024-03-22 | +16.9% | +17.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MU's latest 8-K filings: 2026-08-26 (items 5.02, 9.01); 2026-06-24 (items 2.02, 9.01); 2026-06-09 (items 5.02, 9.01); 2026-04-01 (items 8.01, 9.01); 2026-03-25 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: August 7, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.