NEW YORK (TheStreet) -- Shares of Micron Technology (MU) - Get Report , a semiconductor technology producer, are up 4.29% to $12.76 in early afternoon trading as its price target was reduced to $14.00 with an "overweight" rating at Barclays this morning.

The lowered price reflects the decline in the company's DRAM pricing. 

While the tech company's 20nm DRAM and 3D NAND components are expected to benefit Micron, PC demand is not expected to increase and iPhone (AAPL) sales predictions are "underwhelming," Barclays wrote in an analyst note.  

"The main question remains when MU will be able to improve profitability - the 20 nm and 3D ramps should help, but as losses mount it is difficult to keep the faith," Barclays noted. 

Micron Technology, headquartered in Boise, ID, is expected to report third-quarter fiscal 2016 results on June 30. 

Recently, 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 articles's author. TheStreet Ratings has this to say about the recommendation:

We rate MICRON TECHNOLOGY INC as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

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