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Actionable news in MU: Micron Technology, Inc.,

Micron Technology (MU) Stock Tanks on Rating Downgrade

NEW YORK (TheStreet) -- Micron Technology (MU - Get Report) stock is down by 8.53% to $17.52 in midday trading on Tuesday, after a downgrade to "short" from "neutral" at Redstone Technology Research today,according to Barron's.

The firm cuts its price target to $13 from $20 on the stock.

Margins for Dynamic Random Access Memory, a memory technology manufactured by the company, will not improve until 2017, rather than the February rebound forecast by many analysts, according to Redstone Technology Research's Jagadish Iyer, Barron's reports.

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Higher mobile DRAM sales have failed to boost margins, Iyer added, Barron's notes.

Additionally, Micron is reportedly in talks with SanDisk (SNDK) about a possible takeover deal. Should Micron and SanDisk reach an agreement, Micron would face "huge operational risk" integrating the company and would likely take on more debt than the coverage ratio outlined by Micron, according to Iyer, Barron's reports.

SanDisk is...


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