NEW YORK (TheStreet) -- Jefferies lowered its price target for Micron Technology (MU) - Get Report to $40 from $45 Wednesday, maintaining its "buy" rating.

The analyst firm lowered its 2015 EPS estimates for the chipmaker to $3.53 a share from its previous estimate of $3.59 a share. Jefferies analysts also lowered its 2016 EPS estimates for Micron to $4.12 a share from $4.14 a share.

Jefferies analysts said that the first calendar DRAM pricing weakness is likely to continue into the second quarter of 2015 due to the weak PC market, which led the firm to lower its price target and EPS estimates for Micron.

"We expect DRAM pricing to stabilize exiting CQ2 driven by Smartphone growth, and corrective actions on the supply side," Jefferies analysts wrote. "Our case study of the SK hynix Wuxi fire in 2H13 suggests Micron has a good chance to outperform competition on DRAM ASPs helped by supply constraints on DRAM bit shipments in CY15."

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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