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Micron Technology, Inc. (MU): Peconic Partners is Bullish on This Stock Now

We recently compiled a list of the 191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks. In this article, we are going to take a look at where Micron Technology, Inc. stands against the other stocks.Established in 1997, Peconic Partners is a hedge fund manager based in New York, under the leadership of William Harnisch. The firm manages both its capital and that of its clients, using long/short equity hedge fund strategies. It also follows a thematic investment approach with a structured and consistent methodology, aiming to achieve positive returns over the long term regardless of market conditions.Peconic Partners's stock selection approach is driven by its deep experience. The Peconic Partners investment strategy has a history spanning over 40 years, originating with its predecessor firm. Peconic Partners' long-term track record, history of capital appreciation, and past ability to generate alpha are testaments to the vision, insight, and patience derived from their experien

Micron Technology, Inc. (MU): Peconic Partners is Bullish on This Stock Now

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Only direction is down!","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/333088448262248","repostId":2455459106,"repostType":2,"repost":{"id":"2455459106","kind":"highlight","pubTimestamp":1722294558,"share":"https://www.laohu8.com/m/news/2455459106?lang=&edition=full","pubTime":"2024-07-30 07:09","market":"us","language":"en","title":"Micron Technology, Inc. (MU): Peconic Partners is Bullish on This Stock Now","url":"https://stock-news.laohu8.com/highlight/detail?id=2455459106","media":"Insider Monkey","summary":"We recently compiled a list of the 191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks. In this article, we are going to take a look at where Micron Technology, Inc.  stands against the other stocks.Established in 1997, Peconic Partners is a hedge fund manager based in New York, under the leadership of William Harnisch. The firm manages both its capital and that of its clients, using long/short equity hedge fund strategies. It also follows a thematic investment approach with a structured and consistent methodology, aiming to achieve positive returns over the long term regardless of market conditions.Peconic Partners's stock selection approach is driven by its deep experience. The Peconic Partners investment strategy has a history spanning over 40 years, originating with its predecessor firm. Peconic Partners' long-term track record, history of capital appreciation, and past ability to generate alpha are testaments to the vision, insight, and patience derived from their experien","content":"<html><body><p>We recently compiled a list of the <strong>191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks</strong>. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other stocks.</p>\n<p>Established in 1997, Peconic Partners is a hedge fund manager based in New York, under the leadership of William Harnisch. The firm manages both its capital and that of its clients, using long/short equity hedge fund strategies. It also follows a thematic investment approach with a structured and consistent methodology, aiming to achieve positive returns over the long term regardless of market conditions.</p>\n<p>Peconic Partners's stock selection approach is driven by its deep experience. The Peconic Partners investment strategy has a history spanning over 40 years, originating with its predecessor firm. Peconic Partners' long-term track record, history of capital appreciation, and past ability to generate alpha are testaments to the vision, insight, and patience derived from their experience.</p>\n<p>William Harnisch is the Chief Investment Strategist at Peconic Partners. He managed Peconic Partners from the late 1970s until 1997 when the long-only business was sold to a privately-held financial services firm aiming to expand its asset management business. However, William Harnisch and his partners retained exclusive ownership of the hedge business. In December 2004, he and the current Peconic team formed Peconic Partners, continuing the successful and disciplined hedge fund strategy practiced since the late 1970s.</p>\n<p>Mr. Harnisch's career began in 1968 at Chase Manhattan Bank. He later joined Forstmann-Leff Associates (FLA), managing assets exceeding $5 billion and entering the hedge fund business in 1986. In 1997, he sold FLA's long-only business and in 2004, he founded Peconic Partners to concentrate on hedged products. William Harnisch holds a B.B.A. from Baruch College and is a Chartered Financial Analyst. He is active in philanthropy through the William F. Harnisch Foundation and is a board member of the Baruch College Fund. His market insights have been featured in the Wall Street Journal and Barron’s.</p>\n<p>In 2023, Peconic Partners LLC regained the top spot on HedgeFollow's Top 20 Best Performing Hedge Funds list. Despite challenges like rising inflation and market volatility, Peconic Partners delivered a remarkable 191.50% performance over three years. This achievement is significant as many money managers struggled during a surprising market rally. While only 38% of large-cap mutual funds beat the market in 2023, and long-short hedge funds saw minimal gains, Peconic Partners excelled. For the fourth year in a row, the New York-based fund achieved an annual gain of 38%, three times higher than the S&amp;P 500’s performance.</p>\n<p>In late December of 2023, Mr. Harnisch increased bets against the SPDR S&amp;P 500 ETF Trust and took short positions in expensive industrial stocks and consumer-product makers that have raised prices aggressively. This caused the fund's net leverage to decrease from 50% to 33% in a few weeks, and it has continued to drop in early 2024.</p>\n<p><em><strong>Our Methodology</strong></em></p>\n<p>The companies mentioned in this article come from Peconic Hedge Fund's top 10 stock picks at the end of the first quarter of 2024. To give readers a thorough understanding of these companies, we've included analyst ratings and other relevant details. We also mention the number of hedge fund investors in each company. Why focus on the stocks that hedge funds invest in? Our research shows that mimicking the top picks of the best hedge funds can lead to market-beating returns. Our quarterly newsletter's strategy, which selects 14 small-cap and large-cap stocks each quarter, has returned 275% since May 2014, outperforming its benchmark by 150 percentage points. (<strong>see more details here</strong>)</p>\n<img height=\"816\" src=\"https://s.yimg.com/uu/api/res/1.2/Gc4T_wfef3fvoTlKk1hNEg--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/insidermonkey.com/cece14d8df3ff9750f89999715c2f4bb\" width=\"1456\"/> A close-up view of a computer motherboard with integrated semiconductor chips. \n<h3>Micron Technology, Inc. (NASDAQ:MU)</h3>\n<p><em><strong>Number of Hedge Fund Holders:\n    115</strong></em></p>\n<p>Micron Technology, Inc. (NASDAQ:MU) ranks 4th in Peconic Hedge Fund's top 10 stock picks. According to regulatory filings for the first quarter of 2024, Peconic Partners owned 775,000 shares of Micron Technology, Inc. (NASDAQ:MU), worth $91,364,750, representing 4.05% of their portfolio. Micron Technology, Inc. (NASDAQ:MU) is enjoying increased profitability thanks to strong demand for its memory and storage products. Micron Technology, Inc. (NASDAQ:MU) exceeded profit expectations for Q3 2024, with sales surging, and plans to boost capital expenditures to meet this demand.</p>\n<p>Financial researcher On the Pulse stated that Micron Technology, Inc. (NASDAQ:MU)'s stock is undervalued, trading at less than 13.9 times its earnings, and has the potential for substantial sales growth in 2025.</p>\n<p>ClearBridge Value Equity Strategy stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q2 2024 investor letter:</p>\n<blockquote>\n<p>“Stock selection in the IT sector proved to be the largest contributor to performance, particularly driven by the strong performance of <strong>Micron Technology, Inc.</strong> (NASDAQ:MU) The company, which designs, develops, manufactures and sells memory and storage products, continued its strong performance alongside other AI beneficiaries as the anticipated demand for new and additional storage essential for housing and training large language AI models continues to grow.”</p>\n</blockquote>\n<p>Overall MU <strong>ranks 4th</strong> on our list of Peconic Partners' top 10 stock picks. You can visit <strong>191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks</strong><strong> </strong>to see the other stocks that are on hedge funds’ radar. While we recognize MU's potential as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MU but that trades at less than 5 times its earnings, check out our report about the<strong> cheapest AI stock</strong>.</p>   \n<p><strong>READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.</strong></p>   \n<p>Disclosure: None. This article is originally published at Insider Monkey.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron Technology, Inc. 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(MU): Peconic Partners is Bullish on This Stock Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-30 07:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/micron-technology-inc-mu-peconic-230918936.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against...</p>\n\n<a href=\"https://finance.yahoo.com/news/micron-technology-inc-mu-peconic-230918936.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/WV1rZpZVZ5.vOErnVRlVLA--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/cece14d8df3ff9750f89999715c2f4bb","relate_stocks":{"LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","QID":"纳指两倍做空ETF","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4532":"文艺复兴科技持仓","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","BK4554":"元宇宙及AR概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4553":"喜马拉雅资本持仓","TQQQ":"纳指三倍做多ETF","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","BK4585":"ETF&股票定投概念","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4575":"芯片概念","BK4566":"资本集团","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","MU":"美光科技","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4527":"明星科技股","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4579":"人工智能","BK4588":"碎股","LU0056508442.USD":"贝莱德世界科技基金A2",".IXIC":"NASDAQ Composite","BK4141":"半导体产品","SQQQ":"纳指三倍做空ETF","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4512":"苹果概念"},"source_url":"https://finance.yahoo.com/news/micron-technology-inc-mu-peconic-230918936.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2455459106","content_text":"We recently compiled a list of the 191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other stocks.\nEstablished in 1997, Peconic Partners is a hedge fund manager based in New York, under the leadership of William Harnisch. The firm manages both its capital and that of its clients, using long/short equity hedge fund strategies. It also follows a thematic investment approach with a structured and consistent methodology, aiming to achieve positive returns over the long term regardless of market conditions.\nPeconic Partners's stock selection approach is driven by its deep experience. The Peconic Partners investment strategy has a history spanning over 40 years, originating with its predecessor firm. Peconic Partners' long-term track record, history of capital appreciation, and past ability to generate alpha are testaments to the vision, insight, and patience derived from their experience.\nWilliam Harnisch is the Chief Investment Strategist at Peconic Partners. He managed Peconic Partners from the late 1970s until 1997 when the long-only business was sold to a privately-held financial services firm aiming to expand its asset management business. However, William Harnisch and his partners retained exclusive ownership of the hedge business. In December 2004, he and the current Peconic team formed Peconic Partners, continuing the successful and disciplined hedge fund strategy practiced since the late 1970s.\nMr. Harnisch's career began in 1968 at Chase Manhattan Bank. He later joined Forstmann-Leff Associates (FLA), managing assets exceeding $5 billion and entering the hedge fund business in 1986. In 1997, he sold FLA's long-only business and in 2004, he founded Peconic Partners to concentrate on hedged products. William Harnisch holds a B.B.A. from Baruch College and is a Chartered Financial Analyst. He is active in philanthropy through the William F. Harnisch Foundation and is a board member of the Baruch College Fund. His market insights have been featured in the Wall Street Journal and Barron’s.\nIn 2023, Peconic Partners LLC regained the top spot on HedgeFollow's Top 20 Best Performing Hedge Funds list. Despite challenges like rising inflation and market volatility, Peconic Partners delivered a remarkable 191.50% performance over three years. This achievement is significant as many money managers struggled during a surprising market rally. While only 38% of large-cap mutual funds beat the market in 2023, and long-short hedge funds saw minimal gains, Peconic Partners excelled. For the fourth year in a row, the New York-based fund achieved an annual gain of 38%, three times higher than the S&P 500’s performance.\nIn late December of 2023, Mr. Harnisch increased bets against the SPDR S&P 500 ETF Trust and took short positions in expensive industrial stocks and consumer-product makers that have raised prices aggressively. This caused the fund's net leverage to decrease from 50% to 33% in a few weeks, and it has continued to drop in early 2024.\nOur Methodology\nThe companies mentioned in this article come from Peconic Hedge Fund's top 10 stock picks at the end of the first quarter of 2024. To give readers a thorough understanding of these companies, we've included analyst ratings and other relevant details. We also mention the number of hedge fund investors in each company. Why focus on the stocks that hedge funds invest in? Our research shows that mimicking the top picks of the best hedge funds can lead to market-beating returns. Our quarterly newsletter's strategy, which selects 14 small-cap and large-cap stocks each quarter, has returned 275% since May 2014, outperforming its benchmark by 150 percentage points. (see more details here)\n A close-up view of a computer motherboard with integrated semiconductor chips. \nMicron Technology, Inc. (NASDAQ:MU)\nNumber of Hedge Fund Holders:\n    115\nMicron Technology, Inc. (NASDAQ:MU) ranks 4th in Peconic Hedge Fund's top 10 stock picks. According to regulatory filings for the first quarter of 2024, Peconic Partners owned 775,000 shares of Micron Technology, Inc. (NASDAQ:MU), worth $91,364,750, representing 4.05% of their portfolio. Micron Technology, Inc. (NASDAQ:MU) is enjoying increased profitability thanks to strong demand for its memory and storage products. Micron Technology, Inc. (NASDAQ:MU) exceeded profit expectations for Q3 2024, with sales surging, and plans to boost capital expenditures to meet this demand.\nFinancial researcher On the Pulse stated that Micron Technology, Inc. (NASDAQ:MU)'s stock is undervalued, trading at less than 13.9 times its earnings, and has the potential for substantial sales growth in 2025.\nClearBridge Value Equity Strategy stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q2 2024 investor letter:\n\n“Stock selection in the IT sector proved to be the largest contributor to performance, particularly driven by the strong performance of Micron Technology, Inc. (NASDAQ:MU) The company, which designs, develops, manufactures and sells memory and storage products, continued its strong performance alongside other AI beneficiaries as the anticipated demand for new and additional storage essential for housing and training large language AI models continues to grow.”\n\nOverall MU ranks 4th on our list of Peconic Partners' top 10 stock picks. You can visit 191.50% in 3 Years: Peconic Hedge Fund's Top 10 Stock Picks to see the other stocks that are on hedge funds’ radar. While we recognize MU's potential as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.   \nDisclosure: None. This article is originally published at Insider Monkey.","news_type":1},"isVote":1,"tweetType":1,"viewCount":242,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":53,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}