Buying Back into Micron After $100 Billion Update, Insider Purchase

It's been absolutely killing me for some time that I exited Micron  (MU)  considerably earlier than I should have. It's been killing me that I traded Western Digital (WDC)  on a day/week trading basis almost all summer and did not hang on to any. It's been bugging me that I was basically the original Seagate Technology (STX)  guy and I missed this move. Never mind SanDisk (SNDK) . I have no history in that name.

Bottom line? I pounded the table, writing that investors had to be in memory and storage. For me, that meant Micron more specifically, but somehow, I only benefited from this late-2025-into-2026 surge in the share price of those names. It's not like my portfolios did poorly. Quite the contrary, so I am being something of a spoiled brat here, but I knew this surge was coming, I said it publicly, and then I got too cute for my own good. 

You think the pros don't make mistakes. We all do. That said, outside of maybe Dougie, Rev Shark and myself, not too many of us admit it.

Insider Purchase

I have written to readers several times, mentioning my intent to re-enter Micron Technology, waiting for some kind of sell-off that has not arrived. I discussed this briefly in Friday morning's Market Recon column. 

On Thursday, in a regulatory filing, Micron Director Teyin Liu disclosed that he had purchased about 23,200 shares of common stock at prices ranging from $336.63 to $337.50 per share adding up to $7.8 million spent. This brought Teyin Liu's personal holdings up to 25,910 shares.

Wall Street

Additionally, also on Thursday, Wall Street updated its Micron outlook:

• Atif Malik of Citigroup (rated at five-out-of-five stars by TipRanks) maintained a "buy" rating on Micron after a transfer of coverage while increasing his firm's target price from $330 to $385
• Aaron Rakers of Wells Fargo (five stars) reiterated an "overweight" rating on MU, which is buy-equivalent, while increasing his target price from $335 to $410
• Thomas O'Malley of Barclays (five stars) reiterated an "overweight" rating on MU, which you know is a buy-equivalent rating, while increasing his target price all the way from $275 to $450. Yowza.

How about Wednesday?

• CJ Muse of cantor Fitzgerald (five stars) reiterated a "buy" rating on MU, while increasing his target price from $350 to $450
• Srini Pajjuri of RBC Capital initiated Micron with an "outperform" rating and a $425 target price.

News

On Friday morning, Micron Technology broke ground on its $100 billion memory chip manufacturing complex in Onondaga County, New York. Micron referred to the site as the largest semiconductor facility inside the U.S. The facility will generate 50,000 new jobs in New York State but is not likely going to be able to produce finished products until the year 2030. 

The fact that Micro is willing to fabricate its own chips and do so in size looking far out tells us that this run, though it may have some ups and downs, is going to outlast a lot of our careers. Yes, the stock is trading considerably higher again on Friday.

The Chart​

I surrender. (Actually, I never surrender, I just change tactics). 

I have applied a Raff regression model to the run that Micron shares have made since March and it's incredible. 

What's incredible is that the algos are designed by ​quants who rely upon technical analysts. That's why technical analysis is so much easier and so much more accurate that it was 25 or 30 years ago. With the removal of human traders from the point of sale, emotion has been removed as consideration for fundamentals and valuation has decreased.

All that said, readers will see that MU just spent almost two weeks testing the upper trendline of the model from above and the stock has passed the test. A new breakout? Very possibly. Especially with the stock riding above all three of its key moving averages and with the indicators that I use all posted quite bullishly. 

I will be re-initiating this stock with a small entry-level position at some point after this article is public information. I still intend to get more aggressive should we finally see a sell-off that lasts actually materialize.

At the time of publication, Guilfoyle had no positions in any securities mentioned.