Tomahawk, WI 11/15/2013 (BasicsMedia) –  This year, Micron Technology, Inc. (NASDAQ:MU) has been doing exploits and this is aptly captured by its share performance. The memory maker’s stock is up more than 200% in 2013, revealing a largely bullish stock in a market that is stocking competition by every passing day. Micron Technology, Inc. (NASDAQ:MU) with $20.47 billion in market cap trades around $19.47 a share on NASDAQ. The company has outperformed the competitor by a wider margin, its competitor SK Hynix (OTC:HXSCL) is trailing its sales, earnings, profit margins, stock performance by a yawning margin.

Following the incredible performance that MU has had so far, analysts are expecting significant increase in its full year earning per share. It is important to mention that analysts have had on several occasions, to revise their estimates on the company’s 2014 full year EPS. Initially Wall Street expected it to come in at $1.64. Now it has been raised to about $2.15 and even at this figure, the full year EPS (2014) is viewed as largely undervalued which might be true given the company’s firepower in the market.

MU’s better than industry performance attracts billionaire investor

Micron Technology, Inc. (NASDAQ:MU) has outperformed the industry in 2013 and this has not gone unnoticed. One of its billionaire shareholders has just increased his stake on the company, sending up investor appetite for the stock. According to SEC filings, billionaire investor Seth Klarmen who initially held 41 million shares of the MU through his investment vehicle Baupost Group, LLC has now increased his hold on the company to 64 million shares. This means that Klarmen now holds about 32% of the Micron Technology, Inc. (NASDAQ:MU)’s stock. What can the rest of investors learn from this purchase? Well, it simply succeeds in validated the earlier said superb performance by the memory maker and the potential in its way going forward.

Apart from MU, Seth Klarmen has also bought several other stocks

I think it’s important mentioning that Seth Klarmen is a holder in several other stocks. When he increased his hold on Micron Technology, Inc. (NASDAQ:MU), he also acquired several other stocks including but not limited to Theravance, Inc., Idenix Pharmaceuticals, Inc, PBF Energy Inc. and PBF Energy Inc. So basically, other investors can understand the importance that the billionaire investor attaches to MU among his investment portfolio.

Does MU deserve the praise it’s receiving?

Most everyone knows that the uptake of smartphone and tablets has been on the rise with some markets being reported as demand constrained. The increase in smartphones uptake has also seen customers demanding for super speed and high specs. In this environment, memory makers are having brisk business and for a company like Micron Technology, Inc. (NASDAQ:MU) whose customer network is wider than the competition, business has been even better and more good times are still ahead. The company’s DRAM and NAND memory prices are presently up, meaning that MU’s profit margin in these devices has also gone up. That MU is having good business can be seen in the company’s purchase of Elpida, a chipmaker that is expected to boost its capacity as well as market share.

In think that while Micron Technology, Inc. (NASDAQ:MU) has had quite a good run so far, it still has a lot of gas left to soar even higher.

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