NEW YORK ( TheStreet ) -- Shares of Micron Technology Inc ( MU ) were falling, down 0.82% to $24.29 in late morning trading Wednesday, after analysts at Needham lowered their price target on shares to $40 from $50 this morning. Additionally, the firm cut its earnings estimates for Micron after its channel checks revealed continued PC weakness amid excess supply. Still, Needham analysts maintained its "strong buy" rating, saying shares look "egregiously inexpensive" at current levels. Needham recommends buying the stock on weakness, and sees "several catalysts" to drive its gross margin higher over the next few quarters. Boise, Idaho-based Micron Technology is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.