Shares of Micron Technology (NASDAQ:MU) climbed about 5% on Friday morning, extending a recent rally as strength across the memory chip sector continued. The move followed upbeat earnings and capital spending guidance from Taiwan Semiconductor Manufacturing Company (NYSE:TSM), which helped lift sentiment across semiconductor stocks.
Micron’s gains were further supported by a sizable insider transaction. Company director Teyin Liu disclosed the purchase of roughly $7.82 million worth of Micron shares, significantly increasing his personal stake. Prior to this week, Liu reportedly held around 2,700 shares before adding approximately 23,000 more through purchases made on Tuesday and Wednesday.
Liu is a long-time semiconductor industry executive with prior experience at TSMC, adding weight to investor confidence following the disclosure.
The rally also reflects broader momentum in memory chip stocks, as investors continue to rotate into semiconductor names amid improving industry fundamentals. Analysts point out that TSMC’s strong financial results and forward-looking investment plans have fueled optimism across the sector.
Commenting on the market reaction, Mizuho TMT analyst Jordan Klein said Micron’s premarket jump of more than 6% after the insider buying news highlights the bullish tone surrounding both the company and memory stocks more broadly.
