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Micron Technology, Inc. (NASDAQ:MU) is an American company that produces computer memory and computer data storage. In Q2, Baupost Group holds over 7.1 million shares in the company, valued at $608.7 million. Micron Technology, Inc. (NASDAQ:MU) accounts for 4.93% of the hedge fund’s 13F portfolio.

As of Q2 2021, 87 hedge funds tracked by Insider Monkey reported having stakes in Micron Technology, Inc. (NASDAQ:MU), down from 100 in the previous quarter. The total value of these stakes is over $6.3 billion.

Bonsai Partners mentioned Micron Technology, Inc. (NASDAQ:MU) in its Q1 2021 investor letter. Here is what the firm has to say:

“Micron is a manufacturer of memory semiconductor chips. Micron appreciated 17.3% during the quarter.

With the semiconductor cycle in full swing, sentiment continued to improve for major DRAM and NAND suppliers. Spot pricing for DRAM continues its upward march due to supply shocks across the industry and sustained demand levels that continue to outstrip supply.

As a result, Micron showed improving results for the fiscal first quarter, raised guidance intra-quarter for the fiscal second quarter, and offered strong guidance for the fiscal third quarter in both growth and margins.

While the cyclical nature of DRAM hasn’t changed, the cycles themselves continue to become more benign, leading to long-term economic improvement across these businesses. Micron is now continuously profitable, with industry players in a dramatically stronger position than even just five years ago.

The biggest negative surprise in the quarter came from Micron’s exit from its 3D XPoint hybrid memory business. The company also announced its decision to sell its accompanying Utah fab. Fortunately, this development does not alter the investment thesis much since 3D XPoint was an option ticket for future growth. While it’s unfortunate this product didn’t pan out, now is an excellent time to sell a fab, so perhaps it is a blessing in disguise?”