Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why These 5 Stocks Are Being Pushed Higher Today

Page 1 of 3

Wall Street has rebounded today amid the European Central Bank’s expected decision on its monetary stimulus program and oil prices climbing after reaching their lowest close in more than a decade. Among the gainers today are Micron Technology, Inc. (NASDAQ:MU), Advanced Micro Devices, Inc. (NASDAQ:AMD), Pearson PLC (ADR) (NYSE:PSO), FARO Technologies, Inc. (NASDAQ:FARO), and Twitter Inc (NYSE:TWTR) as investors buy each stock for various reasons. Let’s find out why these particular stocks are making waves and assess the hedge fund sentiment towards these stocks.

While there are many metrics that investors can assess in the investment process, hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).

The first on the list is Micron Technology, Inc. (NASDAQ:MU), whose shares are nearly 6.5% higher today after Morgan Stanley (NYSE:MS)’s Joseph Moore maintained an ‘Overweight’ rating with a price target of $18 on the stock, giving it almost 70% upside potential. Although the analyst thinks that the company’s fundamentals will be a matter of concern in the first half of the year, he also thinks that they could improve in the second half. Recently, analysts at Mizuho cut their price target to $12 per share from $15 per share, while analysts at Sanford C. Bernstein trimmed their target price on the stock to $14 from $20. However, several analysts have reiterated bullish ratings on Micron Technology, Inc. (NASDAQ:MU), including Deutsche Bank and Cowen and Company, which have reaffirmed ‘Buy’ ratings this year.

Among the funds we follow, 71 reported long positions in Micron Technology, Inc. (NASDAQ:MU) as of the end of September, down by eight funds from a quarter earlier. Sander Gerber‘s Hudson Bay Capital Management reported holding a $57.14 million position in the stock as of that time, comprising 2.5% of its 13F portfolio.

Follow Micron Technology Inc (NASDAQ:MU)
Trade (NASDAQ:MU) Now!

Moving on, Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are up by 13% today with seemingly no notable news pushing the gains. Two days ago, the company reported mixed fourth quarter results. For the quarter ended December 31, Advanced Micro Devices reported revenue of $958 million, down by 22.7% year-over-year, but beating expectations of $955 million, while its loss per share came in at $0.10 per share, in-line with analysts’ expectations. Moreover, while the semiconductor company’s guidance for the first quarter was better than the Street’s consensus, it would still represent a 14% quarter-over-quarter decline.

Advanced Micro Devices, Inc. (NASDAQ:AMD) lost popularity in the third quarter of 2015, as out of the 730 funds that we track, 11 funds held shares of the company on September 30, amassing just 0.5% of the float, down from 15 funds on June 30. Cliff Asness‘ AQR Capital Management was the largest shareholder of Advanced Micro Devices in our system, with 1.7 million shares valued at $2.92 million at the end of September.

Follow Advanced Micro Devices Inc (NASDAQ:AMD)
Trade (NASDAQ:AMD) Now!

Page 1 of 3

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!