Billionaire Seth Klarman’s Top 5 Dividend Stock Picks

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

Baupost Group’s Stake Value: $164,627,000
Dividend Yield as of November 15: 0.72%

Micron Technology, Inc. (NASDAQ:MU) is an American semiconductor manufacturing company that also specializes in data storage and other related services. The company currently pays a quarterly dividend of $0.115 per share, raising it by 15% in July this year. This was the company’s first dividend hike since the inception of its dividend policy in 2021. As of November 15, the stock has a dividend yield of 0.72%.

During Q3 2022, Baupost Group raised its position in Micron Technology, Inc. (NASDAQ:MU) by 21%. This increase takes the fund’s total MU stake to $164.6 million. The company accounted for 2.84% of billionaire Seth Klarman’s portfolio.

In October, Loop Capital initiated its coverage of Micron Technology, Inc. (NASDAQ:MU) with a Buy rating and a $70 price target, appreciating the company’s key metrics and other fundamentals.

As per Insider Monkey’s Q2 2022 database, 69 hedge funds reported owning stakes in Micron Technology, Inc. (NASDAQ:MU), falling from 78 in the previous quarter. Those stakes held a total value of over $2.1 billion.

Claret Asset Management mentioned Micron Technology, Inc. (NASDAQ:MU) in its Q3 2022 investor letter. Here is what the firm has to say:

“Inflation is still higher than interest rates… not an incentive to save for most people. Either inflation must come down or interest rates have to go up further. Or both. And probably both. Now that they are taking the punch bowl away and the party is over, what happens next? For whatever reason, the stock market seems to always precede the economic reality: Micron reached a high of $98.45 on January 5th, 2022 and is trading at $50.00 today.”