Boston, MA 11\/27\/2013 (wallstreetpr) –\u00a0Micron Technology, Inc. (NASDAQ:MU) is sending a clear message that it is more than just a semiconductor manufacturer. Instead, it is the latest magnet of hedge funds in the chip making industry. Definitely the flocking of professional funds managers to own a pie of MU tells of the company\u2019s growing importance as a growth and dividend company.<\/p>\n
The list of hedge funds which have recently reached for their deep pockets to take position in MU is already long and growing at an amazing rate. The interesting that is that most of these funds are applying for late disclosure of the positions in the company, something that further reveals that it is a competition identifying\u00a0Micron Technology, Inc. (NASDAQ:MU) as a viable investment stock for the future. That professional funds are increasing the position in the stock does not mean that retail investors looking for near term benefits have no chance of making a kill with this ticker.<\/p>\n
The semiconductor company is riding on the rising prices of memory and the demand supply imbalance. As for the prices, chipmakers are experiencing high profit margins due to the high prices of chips. Moreover, the short of supply in the market due to problems in the manufacturing systems of one of the largest chipmakers is offering brisk business to players like Micron Technology, Inc. (NASDAQ:MU).<\/p>\n
The growing uptake of high performance devices with low energy consumption is also creating sustainable business opportunity for chipmakers globally. It is thus no wonder that hedge funds such as Seth Klarman\u2019s Baupost Group, Andreas Halvorsen\u2019s Viking Global and David Einhorn\u2019s Greenlight Capital are among funds that are either increasing their stake in MU or taking up the stock for the first time.<\/p>\n
So far funds hold 21% of stake in\u00a0Micron Technology, Inc. (NASDAQ:MU) as at Q3.13, up from 14% at the end of Q2.13. The stock is trading at around $21 per share with a market value above $21 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/27\/2013 (wallstreetpr) –\u00a0Micron Technology, Inc. (NASDAQ:MU) is sending a clear message that it is more than just a semiconductor manufacturer. Instead, it is […]<\/p>\n","protected":false},"author":12,"featured_media":12769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[2674,3270,3303,2675],"stock_ticker":[],"class_list":["post-12768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-micron-technology-inc-nasdaqmu","tag-micron-technology-inc","tag-mu","tag-nasdaqmu","entry"],"acf":[],"yoast_head":"\n