Guru Donald Smith (Trades, Portfolio) sold shares of the following stocks during the second quarter:
Smith's Micron Technology Inc. (MU, Financial) position was reduced by 3.14% with an impact of -0.32% on the portfolio.
The company produces semiconductor systems, including dynamic RAM memory, flash memory and solid-state drives (SSD).
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 19.02% and return on assets (ROA) of 8.62% are underperforming 78% of companies in the Global Semiconductor Memory industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.37 is below the industry median of 1.76.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 5.3% of outstanding shares, followed by Smith with 1.2%, David Tepper (Trades, Portfolio) with 1.16%, Steven Cohen (Trades, Portfolio) with 0.27% and David Einhorn (Trades, Portfolio) with 0.24%.
The guru’s holding of Axcelis Technologies Inc. (ACLS, Financial) was reduced by 12.05%. The trade had an impact of -0.17% on the portfolio.
The company makes ion implementation systems used for the production of semiconductor chips.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 14.13% and ROA of 9.41% are outperforming 64% of companies in the Global Semiconductor Equipment and Materials industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 2.28 is above the industry median of 1.76.
PRIMECAP Management is the company's largest shareholder among the gurus with 10.8% of outstanding shares, followed by Smith with 8.44% and Jim Simons (Trades, Portfolio) with 0.2%.
Smith's KB Home (KBH, Financial) stake was reduced by 4.20%, impacting the portfolio by -0.15%.
The construction company builds homes in the U.S.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of 7.15% and ROA of 2.46% are outperforming 52% of companies in the Global Residential Construction industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.55.
With 7.76% of outstanding shares, Smith is the company's largest guru shareholder, followed by Ken Fisher (Trades, Portfolio) with 4.08%, John Hussman (Trades, Portfolio) with 0.24%, Ken Heebner (Trades, Portfolio) with 0.12% and Caxton Associates (Trades, Portfolio) with 0.02%.
Smith reduced his holding of Sanmina Corp. (SANM) by 6.29%. The transaction had an impact of -0.14% on the portfolio.
The company manufactures electronic components for the communication networks, storage, industrial, defense and aerospace end markets.Â
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 12.94% and ROA of 5.81% are outperforming 68% of companies in the Global Electronic Components industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.10 is below the industry median of 1.52.
The company's largest guru shareholder is Smith with 2.69% of outstanding shares, followed by Royce with 0.67%, Simons with 0.41%, Jeremy Grantham (Trades, Portfolio) with 0.23% and Joel Greenblatt (Trades, Portfolio) with 0.13%.
Smith's AerCap Holdings NV (AER) stake was reduced by 1.27%. The trade had an impact of -0.13% on the portfolio.
The company leases aircraft and provides aviation financing.Â
GuruFocus gives the company a profitability and growth rating of 9 out of 10. While the ROE of 13.41% is outperforming the sector, the ROA of 2.72% is underperforming 52% of companies in the Global Airports and Air Services industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.31.
Einhorn is the company's largest shareholder among the gurus with 7.62% of outstanding shares, followed by Smith with 5.4%, Leon Cooperman (Trades, Portfolio) with 1.32%,  Mohnish Pabrai(Trades, Portfolio) with 0.61% and Louis Moore Bacon (Trades, Portfolio) with 0.11%.
Smith's stake in Air France-KLM (AFLYY, Financial) was reduced by 2.78%. The transaction had an impact of -0.1% on the portfolio.
The company transports cargo and passengers via airplane.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. While the ROE of 128.17% is outperforming the sector, the ROA of 4.47% is underperforming 64% of companies in the Global Airlines industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.56 is slightly above the industry median of 0.51.
With 5.88% of outstanding shares, Smith is the company's largest shareholder among the gurus .
Smith reduced his Bridgepoint Education Inc. (BPI, Financial) position by 44.94%. The trade had an impact of -0.07% on the portfolio.
The company provides postsecondary education through online courses and in-class settings via Ashford University and University of the Rockies.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of -3.05% and ROA of 1.75% are underperforming 57% of companies in the Global Education and Training Services industry. Financial strength has a rating of 9 out of 10 with no debt.
Simons is the company's largest shareholder among the gurus with 5.18% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 1.24%, Smith with 1% and Charles Brandes (Trades, Portfolio) with 0.04%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
