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Toshiba is the worlds second-largest NAND flash memory maker after Samsung Electronics.
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Credit Suisse initiated coverage on the computer-memory maker after the earnings announcement with a "neutral" rating and $17 price target.
In tech, shares of flash memory maker SanDisk dropped after the company reported a fourth-quarter loss related to its acquisition of M-Systems.
Credit Suisse First Boston maintained a "neutral" rating on Micron Technology after the computer memory maker announced a $5 billion alliance with chip giant Intel to make flash memory.
The computer memory maker Micron Technology rose 40 cents, or 2 percent, to $16.84 as investors bet that memory prices would rise after a fire shut down a competitor's factory in China.
Qimonda, a German memory maker, began insolvency proceedings in January.
The flash memory maker Violin Memory "is experiencing hyper-growth," he wrote in an e-mail.
Elpida Memory bucked the falling trend by rising 2%, after broadcaster NHK reported that Japan is preparing to use public funds to boost the capital of the PC memory maker.
Computer memory maker STEC is the target of two downgrades.
Samsung, the world's largest memory maker, Siemens, NEC, Fujitsu and Hitachi have descended upon Colorado Springs lately.
A Khwarg favorite is Samsung Electronics, the world's top semiconductor memory maker.
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