5 Best Long-Term Stocks to Buy Now

2. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 78

Share price as of August 8: $62.46

Micron Technology, Inc. (NASDAQ:MU) is a semiconductor company that designs, manufactures, and sells memory and storage products worldwide. The company is based in Boise, Idaho.

Tristan Gerra at Baird holds an Outperform rating on Micron Technology, Inc. (NASDAQ:MU) shares as of this July.

The Biden administration’s inclination to limit the influence of Chinese chip makers has resulted in stocks like Micron Technology, Inc. (NASDAQ:MU) gaining this August. The company, in its May 2022 presentation, also noted that it expects 42% of its 2025 revenue to come from its data center and graphics division, which may limit any losses from its consumer business division. A majority of the analysts covering Micron Technology, Inc. (NASDAQ:MU) held an average price target of $97.5 on the stock as of this June, which signifies the stock’s ability to perform well in the long-term.

Our hedge fund data for the first quarter shows 78 hedge funds long Micron Technology, Inc. (NASDAQ:MU), compared to 83 hedge funds in the previous quarter. Their total stake values were $3.4 billion and $5.5 billion respectively.