NEW YORK (TheStreet) -- Shares of Micron (MU) - Get Report are down 5.77% to $12.45 in early-afternoon trading on Monday as markets continue to tumble following Britain's unexpected decision early Friday morning to leave the European Union.

But analysts at MKM Partners raised their estimates on more "benign" NAND average selling prices and expectations of greater DRAM output following 20nm ramps and preliminary signs of average selling prices stabilization. 

"We caution that DRAM stabilization could take longer than expected and MU's DRAM commentary may be on the cautious side as it is likely seeking renegotiation of the $3.2B Inotera JV buyout," the firm wrote in a note. "But trends remain positive and we maintain our Buy rating and $19 price target."

Based in Boise, ID, Micron's portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions.

TheStreet's Chris Versace and Bob Lang of Trifecta Stocks have identified Micron as the "Chart of the Day." Here is what Versace and Lang had to say about the company:

There were few names that escaped the carnage of Friday's massive selloff. Even those stocks with great breakouts such as Micron Technology were pounded on very heavy turnover.

Still, MU refused to close below the recent support of the 200-day moving average, and it may just be working off an overbought condition. The Relative Strength (RS) is strong but the slope was a bit too steep, so perhaps a bit more downside from the 13 area might just be enough.

Of course, if the market is not participating this won't matter. Even the best stocks will go down if the market starts trending lower. The Moving Average Convergence Divergence (MACD) is still on a buy signal.

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-Chris Versace and Bob Lang " Chart of the Day: Micron Technology" originally published on 6/27/2016 on Trifecta Stocks.

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Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Micron's strengths such as its reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures are countered by weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: MU

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.