(As of December 12, 2025 | Post Q1 FY2026 earnings and recent insider transactions)
Current market capitalization: ≈ $296 billion (based on ~$263.71/share and 1.12 billion shares outstanding)
Introduction
Micron Technology, Inc. (NASDAQ: MU), founded in 1978 by Ward Parkinson, Joe Parkinson, Dennis Wilson, and Doug Pitman in Boise, Idaho, is a leading semiconductor company specializing in memory and storage solutions, including DRAM, NAND flash, and high-bandwidth memory (HBM) for AI data centers, PCs, mobile devices, and automotive applications. Public since 1984, it operates a single-class share structure (one vote per share) for aligned governance. Ownership is institutionally concentrated (~77-81%), with insiders ~1.6% (primarily CEO Sanjay Mehrotra), and retail ~21%. The table below details the top 10 economic shareholders from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity includes $873K in insider sales (Nov 7, 2025, by CEO Mehrotra) and no active buybacks (unused $1B program).
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($296B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 9.32% | $27.6 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~104.65M shares. Passive with ~$9.3T AUM; added ~2.74M shares (+2.7%) in Q3 2025; core S&P 500 weighting (~6%). No direct control; focuses on AI/memory growth. |
| 2 | BlackRock Inc. | 8.36% | $24.7 billion | Holds ~93.83M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~0.2% in Q3 2025; board observer on governance/ESG. Key in semiconductor funds; MU ~0.3% of portfolio. |
| 3 | Capital World Investors | 5.72% | $16.9 billion | ~64.19M shares in growth strategies; active manager. Added ~9.91M shares (+18%) in Q3; focuses on HBM/data center ramp (>$10B FY2025 revenue). |
| 4 | State Street Corporation | 4.59% | $13.6 billion | Owns ~51.5M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp and supply chain ethics. ~3% of tech holdings; supports cash position ($11.9B). |
| 5 | FMR LLC (Fidelity) | 3.73% | $11.0 billion | ~41.9M shares across funds (e.g., Contrafund); active with minor Q3 trim. Bullish on NAND/DRAM (69% YoY Q4 growth); advisory on AI ethics. |
| 6 | Primecap Management Co. | 2.64% | $7.8 billion | ~29.66M shares; value-oriented. Trimmed ~2% in Q3 on valuation; holds for server DRAM leadership. |
| 7 | Geode Capital Management, LLC | 2.00% | $5.9 billion | Fidelity affiliate with ~22.4M shares in index trackers; passive. Grew ~0.3% in Q3; tracks Nasdaq 100; minimal voting power. |
| 8 | JPMorgan Chase & Co. | 1.80% | $5.3 billion | ~20.2M shares in asset management; index/active blend. Up ~1% in 2025; provides banking for MU's $12B cash reserves. |
| 9 | Sanjay Mehrotra (President, CEO & Chairman) | 0.12% | $0.4 billion | ~1.3M shares; largest active insider. Recent sales (~$873K Nov 7, 2025, under 10b5-1 plan); oversees strategy since 2017; net worth tied to performance. |
| 10 | Manish H. Bhatia (EVP Global Operations) | 0.03% | $0.1 billion | ~359K shares; recent stability. Key in manufacturing; aligns with $18B FY2026 CapEx guidance. |
Total Top 10 = ~37.59% | Remaining: Other Institutions (~40%), Other Insiders (~1.48%, e.g., Mark J. Murphy CFO at ~0.03%), Retail (~21%) | Grand Total = 100%
Conclusion
As of December 2025, Micron's ownership is institutionally dominated (~77-81% total) by passive leaders like Vanguard and BlackRock, ensuring stability for its $37.4B FY2025 revenue (up 49% YoY, 50% from data center) and $3.2B Q4 net income (up 261% YoY), with EPS at $2.83 amid HBM ramp (capacity booked through 2026). Insiders (~1.6% combined) like Mehrotra reflect routine 10b5-1 sales (~$122M over 12 months) amid expansions (e.g., $18B FY2026 CapEx), while retail's ~21% stake highlights AI enthusiasm. With $296B market cap (up 200% YoY) and $1B unused buybacks, expect minor share reductions, institutional rebalancing in Q4 13Fs (due Feb 2026), and Q1 FY2026 revenue of ~$12.5B (up 10% QoQ). This structure supports memory dominance, though cyclical pricing and China export risks persist. For filings, visit SEC EDGAR or Micron's investor relations.