California Public Employees Retirement System Buys 1,246,773 Shares of Micron Technology, Inc. $MU

Key Points

• California Public Employees Retirement System boosted its Micron stake by 70.2%, adding 1,246,773 shares to hold 3,023,799 shares (about 0.27% of the company) worth roughly $506 million.
• Micron reported a strong quarter, beating EPS estimates ($4.78 vs. $3.77) and posting $13.64B revenue (up 56.7% YoY), which has spurred multiple analyst price-target increases (some to $500–$525) and a consensus "Buy" rating.

California Public Employees Retirement System increased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 70.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,023,799 shares of the semiconductor manufacturer's stock after buying an additional 1,246,773 shares during the period. California Public Employees Retirement System owned 0.27% of Micron Technology worth $505,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. REAP Financial Group LLC purchased a new position in Micron Technology during the third quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Micron Technology during the third quarter valued at $27,000. Howard Hughes Medical Institute bought a new position in shares of Micron Technology during the second quarter valued at $30,000. Cullen Frost Bankers Inc. raised its position in shares of Micron Technology by 79.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 88 shares during the last quarter. Finally, WealthCollab LLC raised its position in shares of Micron Technology by 4,500.0% in the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 5.1%

Shares of NASDAQ:MU opened at $426.13 on Friday. The stock has a market capitalization of $479.61 billion, a price-to-earnings ratio of 40.51 and a beta of 1.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 2.46. The stock's 50-day simple moving average is $391.35 and its two-hundred day simple moving average is $272.75. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $455.50.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.77 by $1.01. Micron Technology had a return on equity of 22.71% and a net margin of 28.15%.The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the company posted $1.79 EPS. The business's quarterly revenue was up 56.7% compared to the same quarter last year. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 29th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, December 29th. Micron Technology's payout ratio is 4.37%.

Key Micron Technology News

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

• Positive Sentiment: Wedbush raised its price target to $500 and reiterated an Outperform rating, citing stronger-than-expected memory pricing as the driver behind the upgrade. Micron Technology price target boosted on stronger-than-expected memory pricing
• Positive Sentiment: Analysts and reports say HBM capacity is effectively sold out for 2026 and DRAM/NAND pricing remains on a strong trajectory, supporting margin upside and near-term revenue visibility. Micron Technology: HBM Sold Out For 2026, Wall Street Is Still Underpricing
• Positive Sentiment: Street previews expect a “monster” Q2: consensus models show very large YoY revenue and EPS growth driven by AI memory demand and operating leverage, so investors are positioned for another beat. Micron Q2 Earnings Preview: Expect Another Monster Quarter
• Positive Sentiment: Multiple firms (Wolfe, Susquehanna and others) have raised targets (some as high as $500–$525), reinforcing momentum and giving investors fresh upside scenarios ahead of earnings. Micron (MU) Stock Surges as Wolfe Research Sets $500 Price Target Analysts Remain Positive on Micron Technology, Here’s Why?
• Neutral Sentiment: Several bullish write-ups highlight Micron’s valuation vs. peers (forward P/E and PEG), arguing the stock still looks cheap relative to growth — but those points are debateable and depend on how long pricing strength lasts. Micron: Dirt Cheap Before Earnings
• Neutral Sentiment: Market commentary stresses that Q3 guidance will be the key catalyst — strong quarter now is expected, but the company’s outlook and durability of pricing trends will determine whether the rally continues. Micron's stock is rising. Here's the big question heading into earnings.
• Negative Sentiment: Risks remain: memory is cyclical and investors warn of potential overinvestment by suppliers that could erode prices; recent short-term volatility and a pullback earlier this week show sentiment can reverse quickly if guidance disappoints. Micron (MU) Falls More Steeply Than Broader Market

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Raymond James Financial lifted their target price on shares of Micron Technology from $190.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, December 18th. William Blair initiated coverage on shares of Micron Technology in a research note on Thursday, January 22nd. They issued an "outperform" rating on the stock. Bank of America increased their price target on shares of Micron Technology from $300.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, January 13th. Finally, Barclays raised their price target on shares of Micron Technology from $275.00 to $450.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Six analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus target price of $389.41.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CAO Scott R. Allen sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $337.50, for a total value of $675,000.00. Following the transaction, the chief accounting officer directly owned 38,237 shares in the company, valued at approximately $12,904,987.50. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 25,000 shares of Micron Technology stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $429.89, for a total transaction of $10,747,250.00. Following the transaction, the executive vice president owned 248,021 shares in the company, valued at $106,621,747.69. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 23,200 shares of company stock valued at $7,821,723 and sold 73,623 shares valued at $27,307,408. Corporate insiders own 0.24% of the company's stock.

About Micron Technology

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.

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