Micron Technology shares surged nearly 10% on Friday, driven by a confluence of supply scarcity in high-bandwidth memory modules and mounting AI infrastructure orders. Analysts at Deutsche Bank, Susquehanna and Needham all raised their ratings in December, citing a transition to sustained pricing power and margin expansion tied to hyperscale data-center buildouts. Wolfe Research boosted its target by more than 15%, noting that Micron’s advanced 1α-node DRAM capacity is tracking ahead of competitor timelines, reinforcing Wall Street conviction in a structural re-rating.

In the latest 13F filings, Bank Pictet & Cie Europe AG increased its stake by 12.5%, bringing its position to 55,255 shares valued at approximately $9.25 million. Brighton Jones LLC lifted its holding by 18.3% to 6,318 shares, while First Manhattan Co. added 25.2% more shares in the first quarter. Alyeska Investment Group entered with a new position valued near $11.2 million, and Advisors Asset Management more than doubled its stake to 31,599 shares. These moves push institutional ownership above 80%, underscoring confidence in Micron’s long-term growth trajectory.

Micron reported fourth-quarter earnings of $4.78 per share, beating consensus by $1.01, with revenue climbing 56.7% year-over-year to $13.64 billion. Net margin expanded to 28.2% and return on equity reached 22.7%. Management set second-quarter EPS guidance at a range of 8.22 to 8.62, implying continued strength in memory pricing. The board also declared a quarterly dividend of $0.115 per share, marking a 4.4% payout ratio and signaling confidence in free cash flow generation.