Should You Now Consider Investing in Micron Technology (MU)?

LRT Capital Management, an investment management firm, published its September 2022 investor letter – a copy of which can be downloaded here. A return of -20.49% was recorded by the LRT Economic Moat strategy for September 2022, resulting to a 12-month return of -32.37%. I As of October 3rd, 2022, the fund’s net exposure was approximately 102.73%, and its beta-adjusted exposure was 84.33%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, LRT Capital Management mentioned Micron Technology, Inc. (NASDAQ:MU) and explained its insights for the company. Founded in 1978, Micron Technology, Inc. (NASDAQ:MU) is a Boise, Idaho-based semiconductor manufacturing company with a $57.3 billion market capitalization. Micron Technology, Inc. (NASDAQ:MU) delivered a -43.37% return since the beginning of the year, while its 12-month returns are down by -20.53%. The stock closed at $52.75 per share on October 12, 2022.

Here is what LRT Capital Management has to say about Micron Technology, Inc. (NASDAQ:MU) in its Q3 2022 investor letter:

“Anecdotally, stocks are beginning to react positively to what is prima facie bad news. For example, Micron Technology, Inc. (NASDAQ:MU), the maker of memory chips reported earnings and provided updated guidance on September 29^th. The guidance was well below what the company said previously and suggested the company may not make any money at all in Q1 next year.³ Yet, the stock went up, on the news, suggesting investors have priced in a lot of bad news already.

Our calculations show that Micron Technology, Inc. (NASDAQ:MU) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Micron Technology, Inc. (NASDAQ:MU) was in 69 hedge fund portfolios at the end of the second quarter of 2022, compared to 78 funds in the previous quarter. Micron Technology, Inc. (NASDAQ:MU) delivered a -10.38% return in the past 3 months.

In September 2022, we also shared another hedge fund’s views on Micron Technology, Inc. (NASDAQ:MU) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.