Capital Research Global Investors reduced its stake in Micron Technology, Inc. (MU) by 21.3% during the fourth quarter, selling over 2.05 million shares, according to a recent 13F filing with the SEC. Similarly, Capital International Investors also trimmed its position by 5.6%, selling approximately 1.32 million shares. As of the filing, Capital Research Global Investors still held nearly 7.6 million shares, valued at over $2.1 billion.
This move by a prominent investor comes amidst a backdrop of broadly positive sentiment from Wall Street. Analysts have been raising price targets, citing strong demand for Micron's high-bandwidth memory, particularly its HBM4 certification for Nvidia's upcoming AI platform. The company also recently increased its quarterly dividend, reflecting confidence in its business performance ahead of its fiscal third-quarter results expected on June 24.