Hedge Funds Are Buying Micron Technology, Inc. (MU)

Page 1 of 2

Micron Technology, Inc. (NASDAQ:MU) has seen an increase in support from the world’s most elite money managers of late.

Micron Technology, Inc. (NASDAQ:MU)

In today’s marketplace, there are a multitude of gauges shareholders can use to watch stocks. Two of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite fund managers can outpace the broader indices by a significant amount (see just how much).

Equally as beneficial, bullish insider trading sentiment is a second way to break down the world of equities. As the old adage goes: there are many reasons for an insider to get rid of shares of his or her company, but just one, very simple reason why they would behave bullishly. Many empirical studies have demonstrated the market-beating potential of this tactic if shareholders know what to do (learn more here).

With all of this in mind, let’s take a look at the latest action surrounding Micron Technology, Inc. (NASDAQ:MU).

How have hedgies been trading Micron Technology, Inc. (NASDAQ:MU)?

At the end of the first quarter, a total of 37 of the hedge funds we track held long positions in this stock, a change of 12% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were upping their holdings substantially.

Of the funds we track, William B. Gray’s Orbis Investment Management had the biggest position in Micron Technology, Inc. (NASDAQ:MU), worth close to $1.2212 billion, accounting for 10.4% of its total 13F portfolio. Sitting at the No. 2 spot is Steven Cohen of SAC Capital Advisors, with a $188.4 million position; the fund has 0.9% of its 13F portfolio invested in the stock. Some other peers that are bullish include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Robert Karr’s Joho Capital and Kerr Neilson’s Platinum Asset Management.

As one would reasonably expect, key money managers have been driving this bullishness. Joho Capital, managed by Robert Karr, assembled the biggest position in Micron Technology, Inc. (NASDAQ:MU). Joho Capital had 85.2 million invested in the company at the end of the quarter. Steven Cohen’s SAC Capital Advisors also made a $65.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Paul Marshall and Ian Wace’s Marshall Wace LLP, Michael Messner’s Seminole Capital (Investment Mgmt), and Curtis Macnguyen’s Ivory Capital (Investment Mgmt).

What have insiders been doing with Micron Technology, Inc. (NASDAQ:MU)?

Insider trading activity, especially when it’s bullish, is most useful when the company in question has seen transactions within the past half-year. Over the latest half-year time period, Micron Technology, Inc. (NASDAQ:MU) has experienced zero unique insiders purchasing, and 12 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Micron Technology, Inc. (NASDAQ:MU). These stocks are Netlist, Inc. (NASDAQ:NLST), SemiLEDs Corporation (NASDAQ:LEDS), Integrated Silicon Solution, Inc. (NASDAQ:ISSI), Rambus Inc. (NASDAQ:RMBS), and Spansion Inc. (NYSE:CODE). This group of stocks are in the semiconductor- memory chips industry and their market caps are similar to MU’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!