TLDR
- Director Teyin Liu purchased 23,200 Micron shares for $7.8M at $336.63 to $337.50 per share
- Liu’s total holdings increased to 25,910 shares after the transaction
- Three major banks raised MU price targets Wednesday: Barclays, Wells Fargo, and Citi
- TSMC’s strong earnings report lifted the entire semiconductor sector
- MU stock climbed 1% after-hours Thursday and surged 6% in Friday pre-market
Micron Technology saw a major insider purchase this week. Director Teyin Liu bought 23,200 shares worth $7.8 million.
Micron Technology, Inc., MU
The purchases occurred at prices between $336.63 and $337.50 per share. Liu now holds 25,910 shares directly.
The stock responded positively to the news. Shares rose 1% in after-hours trading Thursday.
Friday morning brought even stronger gains. Pre-market trading showed Micron up over 6%.
Wall Street Raises Expectations
Three major investment banks upgraded their outlook on Micron Wednesday. Barclays, Wells Fargo, and Citi all raised price targets.
The analysts see more room for the stock to climb. Their revised targets suggest growing confidence in the chipmaker’s prospects.
The timing proved interesting. Liu’s purchase came days after these upgrades.
Insider buying often signals confidence in a company’s direction. A $7.8 million investment represents substantial conviction.
Chip Sector Gains Momentum
TSMC delivered strong quarterly results that exceeded forecasts. The Taiwan-based semiconductor manufacturer’s earnings sparked optimism.
Chip stocks rallied across the board. Micron benefited from this sector-wide momentum.
The combination of factors created upward pressure on the stock. Analyst upgrades, insider buying, and positive sector news converged.
Pre-market activity Friday showed robust investor interest. The 6% jump reflected strong demand for shares.
Recent Trading Activity
Liu’s purchases spanned a tight price range near $337. The consistency suggests deliberate accumulation.
Regulatory filings disclosed the transactions. Directors must report such purchases publicly.
His ownership stake now stands at 25,910 shares. The position reflects meaningful exposure to the stock’s performance.
Wells Fargo joined the other two banks in raising targets. The firm covers semiconductor stocks extensively.
Barclays and Citi made similar moves. All three see upside potential from current levels.
The upgrades preceded Liu’s disclosed purchases by several days. Market participants noticed the pattern.
Friday’s pre-market surge built on Thursday’s after-hours gains. Momentum continued building into the new trading session.
TSMC’s results provided a backdrop for chip stock strength. The earnings beat reinforced positive sentiment toward the sector.
Micron’s gains outpaced many peers Friday morning. The 6% pre-market jump stood out.
Liu completed his purchases at an average price around $337. The stock traded higher in pre-market activity Friday following the disclosure.
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