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Actionable news in MU: Micron Technology, Inc.,

Micron Technology (MU) Stock Closed Down 10.80% After Ratings Downgrade

NEW YORK (TheStreet) -- Micron Technology (MU - Get Report) stock closed lower 10.80% to $17.09 in trading on Tuesday, after a downgrade to "short" from "neutral" at Redstone Technology Research today, according to Barron's.

Redstone Technology Research decreased its price target to $13 from $20 on the stock.

Over 67 million shares of Micron traded hands today, more than double the average volume of roughly 29 million shares.

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The company's Dynamic Random Access Memory (DRAM) margins will not improve until 2017, contrary to the February turnaround expected by many, according to Redstone Technology Research's Jagadish Iyer, Barron's noted. Growth in DRAM and NAND will probably decline during fiscal 2016.

Improved sales of mobile DRAM, which comprise 25% to 32% of DRAM revenues, have only narrowed declines in DRAM gross margin, to 31% in the quarter ended August 2015 from 41% year over year, Iyer notes, according to Barron's.

Additionally, the company is rumored to be in talks with SanDisk (SNDK) about a possible takeover, which would entail "huge operational risk" to...


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