NEW YORK (TheStreet) -- RBC Capital Markets lowered its price target for Micron Technology (MU) - Get Report to $40 from $44 on Tuesday, reiterating its "outperform" rating.

Shares of Micron Technology were falling 2.1% to $27.90 in morning trading.

The analyst firm lowered its 2015 EPS estimates for the chipmaker to $3.01 from $3.60 a share. RBC analysts also lowered their 2016 and 2017 EPS estimates for the company to $3.71 and $4.90 a share, down from $4.16 and $5.17 a share, respectively.

RBC now expects Micron Technology to report earnings of 63 cents a share for the second quarter of 2015, down from previous estimates of 80 cents a share for the quarter.

RBC analyst Doug Freedman said the lower price target and EPS estimates are due to lower DRAM big growth expectations in full year 2015. The analyst said Micron Technology's valuation "continues to be attractive at 10.4x EV/NTM FCF," despite the lower estimates.

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Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• MU's revenue growth has slightly outpaced the industry average of 10.6%. Since the same quarter one year prior, revenues rose by 13.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
• The current debt-to-equity ratio, 0.49, is low and is below the industry average, implying that there has been successful management of debt levels. To add to this, MU has a quick ratio of 1.56, which demonstrates the ability of the company to cover short-term liquidity needs.
• The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, MICRON TECHNOLOGY INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
• Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
• You can view the full analysis from the report here: MU Ratings Report