Micron Technology, Inc. (NASDAQ:MU) was in 37 hedge funds’ portfolio at the end of the first quarter of 2013. MU has experienced an increase in enthusiasm from smart money lately. There were 33 hedge funds in our database with MU holdings at the end of the previous quarter.
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Equally as key, positive insider trading activity is a second way to parse down the financial markets. Obviously, there are many reasons for an upper level exec to get rid of shares of his or her company, but only one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the valuable potential of this method if shareholders understand where to look (learn more here).
Keeping this in mind, we’re going to take a peek at the recent action surrounding Micron Technology, Inc. (NASDAQ:MU).
What have hedge funds been doing with Micron Technology, Inc. (NASDAQ:MU)?
Heading into Q2, a total of 37 of the hedge funds we track were long in this stock, a change of 12% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings meaningfully.
Now, key hedge funds were breaking ground themselves. Joho Capital, managed by Robert Karr, created the biggest position in Micron Technology, Inc. (NASDAQ:MU). Joho Capital had 85.2 million invested in the company at the end of the quarter. Steven Cohen’s SAC Capital Advisors also initiated a $65.2 million position during the quarter. The other funds with brand new MU positions are Paul Marshall and Ian Wace’s Marshall Wace LLP, Michael Messner’s Seminole Capital (Investment Mgmt), and Curtis Macnguyen’s Ivory Capital (Investment Mgmt).
How are insiders trading Micron Technology, Inc. (NASDAQ:MU)?
Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the last half-year time frame, Micron Technology, Inc. (NASDAQ:MU) has experienced zero unique insiders buying, and 1 unique insider sales (see the details of insider trades here).
With the returns demonstrated by our strategies, everyday investors must always pay attention to hedge fund and insider trading activity, and Micron Technology, Inc. (NASDAQ:MU) is an important part of this process.
