Rokos Capital Management 13F: Cuts MU Stake by $435M

Rokos Capital Management Reduces Micron Holdings

Rokos Capital Management trimmed its investment in Micron Technology, Inc. (NasdaqGS: MU), cutting its position by 66.1% during the period ended May 15, 2026. According to its Form 13F filing with the SEC, the fund sold 376,504 shares, leaving it with 193,239 shares. That remaining stake carried an estimated value of $223.1 million at the end of the reporting window. Because 13F filings look backward at past holdings, this report captures a prior snapshot and may not reflect the fund's current share count today.

Micron Stock Performance and Trading Range

Micron shares have enjoyed a powerful run, trading far above their 200-day moving average of $714.91 and within striking distance of their 52-week high of $1,255.00 after dropping as low as $192.40 over the past year. The company trades at a trailing price-to-earnings ratio of 12.5 and carries a forward P/E of 4.6, reflecting expectations for strong earnings growth in the memory chip sector. With a beta of 2.23, the stock tends to swing more sharply than the broader market.

Recent Earnings and Financial Health

Micron posted robust fundamentals recently, generating $133.2 billion in revenue with a solid revenue growth rate of 3.8%. The company reported earnings per share of $74.33 alongside a net margin of 63.8% and a return on equity of 88.3%, underlining efficient operations in its cloud, mobile, and data center memory divisions. Investors can look forward to the company's next earnings report, scheduled for December 23, 2026.

Dividend Profile

Income-focused investors note that Micron pays a modest dividend yielding 0.06% annually. The current payout ratio sits at 0.7%, leaving the company plenty of room to retain earnings for capital expenditures and research into advanced memory products like High-Bandwidth Memory.

Insider Buying and Selling at Micron Technology, Inc.

On the insider front, Ray Michael Charles, Senior Vice President and Chief Legal Officer, sold 40 shares of stock on October 14, 2026, at an average price of $947.29 for a total value of $37,891.60. The transaction was carried out under a pre-arranged trading plan, and insider sales of this nature are routine portfolio moves rather than directional signals about company health.

Wall Street Analyst Ratings

Analyst coverage remains overwhelmingly positive across major financial institutions. On October 13, 2026, Rosenblatt maintained its Buy rating with a $1,900 price target. Earlier in the month on October 7, 2026, DA Davidson kept a Buy rating while lifting its price target to $3,000. Mizuho also kept an Outperform rating on October 1, 2026, raising its target to $1,400. Morgan Stanley, TD Cowen, and RBC Capital chimed in with similar bullish stances, backed by a consensus strong buy rating and a mean price target of $1,560.57.

Inside Micron Technology's Business

Founded in 1978 and headquartered in Boise, Idaho, Micron Technology designs and manufactures advanced semiconductor memory and storage solutions. Its product lineup includes dynamic random-access memory, or DRAM, and flash memory products used everywhere from smartphones to massive enterprise data centers. The fund activity by Rokos and other institutional players takes place against the backdrop of high demand for AI-enabling hardware.

What to Watch at Micron Technology, Inc.

Investors tracking Micron will want to watch upcoming SEC disclosures to see how institutional appetite shifts leading into the winter earnings season. As always, quarterly 13F filings offer a rearview mirror on where major funds parked their capital during prior months.