What is morphological analysis of words to estimate their meaning called?

Is there a word for this?

I’ll use an example to show what I mean:

Let’s say you don’t know what sepsis means, which is bacterial infection of blood. So, you start thinking. You break the word up into what is most likely its components. In this case, it’s likely you’d recognize its stem, seps, and its nominal suffix, is. Then, looking at seps, you remember the Seps, a snake whose venom caused putrefaction in a Greek bestiary. Then, you remember your house’s septic tank, and the theme of putrefaction continues. With some more medical context, adding a non-linguistic logical element to your analysis (which in other examples might not be needed), you infer that sepsis is a bacterial infection of the blood. Other parts of the analysis might include looking for clues to find out what language the word stems from, and what languages it might have been transferred to, which further informs the analysis.

So, is there a word for this kind of analysis? Morpho-semantic analysis perhaps?

Note: I asked this question on Lingusitic.SE as well.