Micron (MU): revenue up 3.6 times to $133 billion, a $1.16 trillion stock, and funds and executives selling as it rose

Micron Technology closed at $1,029.00 on October 9, 2026, worth $1.16 trillion. The stock is up 435.0% over twelve months, against 16.0% for the S&P 500, and 260.5% in 2026. Its highest close ever was $1,213.56 on June 25, 2026, the day after it reported its fiscal third quarter; it is 15.2% below that now. The dividend yield is 0.06%.

Fiscal 2026 in numbers

Micron’s fiscal year ends on the Thursday closest to August 31. Fiscal 2026 ended on September 3, 2026 and had 53 weeks, against 52 the year before, so the fourth quarter had 14 weeks; part of the growth is that extra week. Revenue rose from $37.4 billion to $133.2 billion and net income from $8.5 billion to $85.0 billion, or $74.33 a share. Gross margin was 80.7%, against 39.8% in fiscal 2025. Three years earlier, in fiscal 2023, Micron lost $5.8 billion on revenue of $15.5 billion.

In the fiscal fourth quarter, revenue was $54.2 billion against $11.3 billion a year earlier, with a gross margin of 86.8%. For the first quarter of fiscal 2027, Micron guided to revenue of $61.5 billion, plus or minus $1.5 billion, and earnings of $37.84 a share, plus or minus $1.00. The company headlined its results “AI-driven demand and strong operational execution position Micron for a record fiscal 2027,” and its chief executive said its “Strategic Customer Agreements provide added confidence in the durability” of its results. It ended the year with $73.5 billion in cash and investments, after $27.4 billion of net capital spending. At the October 9 close, the stock traded at 13.8 times fiscal 2026 earnings per share.

Other filings this year: in March the board raised the quarterly dividend 30%, from $0.115 to $0.15; in March Micron offered to buy back for cash $5.4 billion of its notes due 2031 to 2035, and holders tendered $4.3 billion; in June Alexis Black Björlin, a former head of NVIDIA’s DGX Cloud, joined the board; and in August Manish Bhatia became president and chief operating officer and Scott DeBoer president and chief technology and products officer, with Sanjay Mehrotra remaining chairman and chief executive.

Who held it at the end of June

In the second quarter of 2026 the stock rose 241.7%, from $337.84 to $1,154.29. Over the same quarter, the number of tracked managers holding it went from 11 to 13, but their combined shares fell 45%, from 19.1 million to 10.5 million; the value of their holdings still nearly doubled, to $12.1 billion, because of the price. Nine of them cut, most of them quantitative or multi-strategy funds: Ken Griffin’s Citadel sold 87%, Renaissance Technologies 90% and Ray Dalio’s Bridgewater 92%. Cliff Asness’s AQR trimmed 15% and remained the largest holder. On the other side, Philippe Laffont’s Coatue multiplied its stake about nineteenfold, to $3.6 billion, and Brad Gerstner’s Altimeter opened a $242 million position. A 13F does not say on which day of the quarter shares were traded. Since June 30 the stock is down 10.9%.

Insiders

In the twelve months to October 9, 2026, Micron insiders sold $373.9 million of stock. $317.9 million went through 10b5-1 trading plans, including $200.0 million by chief executive Sanjay Mehrotra in 215 sales on 12 days, of shares released from stock awards according to his sale notices. $56.0 million was not marked as planned, led by chief business officer Sumit Sadana ($34.9 million) and Manish Bhatia ($10.4 million). Another $144.4 million of shares was withheld by the company to pay taxes on vesting stock, which is not a sale in the market.

There was one purchase. Director T. Mark Liu — executive chairman of TSMC from 2018 to 2024, according to Micron’s proxy statement — bought 23,200 shares for $7.8 million on January 13 and 14, 2026, at about $337 a share; at the October 9 close they were worth about $23.9 million. The filings do not say why anyone bought or sold. Daily data and every Form 4 are on the Micron page. Not investment advice.