Who’s Buying Micron Technology, Inc. (MU)?

Micron Technology, Inc. (NASDAQ:MU) was in 37 hedge funds’ portfolio at the end of the first quarter of 2013. MU has experienced an increase in enthusiasm from smart money lately. There were 33 hedge funds in our database with MU holdings at the end of the previous quarter.

In the eyes of most stock holders, hedge funds are perceived as underperforming, outdated investment tools of years past. While there are greater than 8000 funds with their doors open at the moment, we hone in on the aristocrats of this club, close to 450 funds. Most estimates calculate that this group has its hands on most of the smart money’s total capital, and by watching their best picks, we have identified a number of investment strategies that have historically outperformed the S&P 500 index. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Equally as key, positive insider trading activity is a second way to parse down the financial markets. Obviously, there are many reasons for an upper level exec to get rid of shares of his or her company, but only one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the valuable potential of this method if shareholders understand where to look (learn more here).

Keeping this in mind, we’re going to take a peek at the recent action surrounding Micron Technology, Inc. (NASDAQ:MU).

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

Heading into Q2, a total of 37 of the hedge funds we track were long in this stock, a change of 12% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings meaningfully.

Micron Technology, Inc. (NASDAQ:MU)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.

Now, key hedge funds were breaking ground themselves. Joho Capital, managed by Robert Karr, created 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 initiated a $65.2 million position during the quarter. The other funds with brand new MU positions 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).

How are insiders trading Micron Technology, Inc. (NASDAQ:MU)?

Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the last half-year time frame, Micron Technology, Inc. (NASDAQ:MU) has experienced zero unique insiders buying, and 1 unique insider sales (see the details of insider trades here).

With the returns demonstrated by our strategies, everyday investors must always pay attention to hedge fund and insider trading activity, and Micron Technology, Inc. (NASDAQ:MU) is an important part of this process.

Click here to learn why you should track hedge funds

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