Bank of Nova Scotia Boosts Micron Technology Stake

Semiconductor manufacturer sees increased institutional investment as demand for memory chips rises

Mar. 15, 2026 at 9:22am

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Bank of Nova Scotia grew its position in Micron Technology, Inc. (NASDAQ:MU) by 95.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund now owns 1,567,573 shares of the semiconductor manufacturer's stock, worth approximately $262 million.

Why it matters

Micron Technology is a major player in the semiconductor industry, producing memory chips used in a wide range of electronic devices. The increase in institutional investment, particularly from a large financial institution like Bank of Nova Scotia, suggests growing confidence in the company's prospects as demand for memory chips continues to rise.

The details

According to the 13F filing, Bank of Nova Scotia acquired an additional 766,930 shares of Micron Technology during the third quarter, bringing its total stake to 1,567,573 shares. This represents approximately 0.14% of Micron's outstanding shares. The increased investment comes as Micron has seen strong demand for its memory products, driven by growth in areas like data centers, cloud computing, and mobile devices.

  • Bank of Nova Scotia increased its Micron Technology stake in the third quarter of 2026.

The players

Bank of Nova Scotia

A major Canadian financial institution that has increased its investment in semiconductor manufacturer Micron Technology.

Micron Technology, Inc.

A global semiconductor company that designs and manufactures memory and storage solutions, including dynamic random-access memory (DRAM) and NAND flash memory.

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What they’re saying

“We must continue to see strong demand for memory chips as the world becomes more connected and data-driven.”

— Analyst

What’s next

Micron Technology is expected to report its next quarterly earnings in the coming weeks, which will provide further insight into the company's performance and outlook.

The takeaway

The increased investment from Bank of Nova Scotia in Micron Technology reflects the growing importance of memory chips in the semiconductor industry and the confidence that major institutional investors have in Micron's ability to capitalize on this trend.