Insiders Are Dumping Micron At The Highest Rate Since 2010. Is It Time To Get Out?

Micron insiders person sold much than $100 cardinal successful institution banal implicit the past 24 months, and they're not slowing down.

Per the Oppenheimer desk, arsenic cited by CNBC's Carl Quintanilla connected Bluesky this morning, "$MU, the second-best performing SPX banal YTD, is seeing insider selling astatine the highest level connected grounds since 2010." That framing captures the paradox for Micron Technology (NASDAQ:MU) holders: the banal is up 703.29% implicit the past year, yet the radical who cognize the concern champion are heading for the exits.

The Selling Pattern

SEC filings amusement a accordant pattern. On May 1, 2026, CEO Sanjay Mehrotra sold 40,000 shares astatine an mean of $536.26 per share, astir $21.45 million. On May 29, helium sold 37,439 shares crossed 30 abstracted transactions astatine a weighted mean of $960.38, astir $35.96 million. Then connected June 26, Mehrotra disposed of a combined 38,030 shares successful 2 transactions totaling astir $46.3 cardinal astatine prices ranging from $1,128 to $1,192. Board manager Lynn Dugle followed connected July 2, selling 1,300 shares valued astatine astir $1.5 million.

Per Benzinga Pro and SEC Form 4 filings, insiders person sold astir 49,600 shares worthy $27 cardinal successful the past 30 days, with zero reported purchases. GuruFocus counts 1 insider bargain against 36 sells implicit the past year.

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The 10b5-1 Nuance

Context matters. Every Mehrotra merchantability has been executed nether a Rule 10b5-1 trading program adopted connected January 30, 2026, a pre-scheduled statement that runs automatically careless of price. The program was acceptable earlier the AI-driven melt-up. Mehrotra remains substantially invested: helium inactive straight holds astir 344,503 shares positive 607,075 shares held indirectly done grantor retained annuity trusts.

The Bull Case

Fundamentals are extraordinary. Q3 fiscal 2026 gross deed $41.46B, up 345.7% twelvemonth implicit year, with non-GAAP EPS of $25.11 and GAAP gross borderline of 84.6%. Mehrotra told investors, "Micron's grounds fiscal Q3 fiscal results and adjacent stronger outlook for Q4 bespeak the strategical worth of representation successful the AI era." On the Q2 telephone helium added, "Some of our cardinal customers, we are capable to fulfill lone 50% to two-thirds of their request successful the mean term." Wall Street is aligned: the expert people sits astatine $1,486, with 31 Buy and 9 Strong Buy ratings. Forward P/E is 7.