5 Semiconductor Stocks for the Next 20 Years

4. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 78     

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. On July 29, a day after lawmakers agreed to spend hundreds of billions in government spending to boost chip manufacturing in the US, Micron announced that it would be investing heavily in research and development to bring cutting edge chip manufacturing capabilities to the US. The firm said that it would be sharing more details about the plans in the coming weeks. Micron was founded in 1978 and is based in Idaho. 

On July 1, Evercore ISI analyst C.J. Muse maintained an Outperform rating on Micron Technology (NASDAQ:MU) stock with a price target of $90, noting that there was excess conservatism in the update outlook on the firm. 

At the end of the first quarter of 2022, 78 hedge funds in the database of Insider Monkey held stakes worth $3.4 billion in Micron Technology (NASDAQ:MU), compared to 83 in the preceding quarter worth $5.5 billion.