Notable Downgrades: DryShips, Inc. (DRYS), CME Group Inc. (CME), ON Semiconductor (ONNN), Silicon Laboratories (SLAB) , VOXX Int’l (VOXX)

DryShips, Inc. (DRYS) shares plunged Monday, after the dry bulk carrier’s stock was downgraded by analysts at Imperial Capital to an ‘Underperform’ rating from ‘Outperform’. The firm also lowered its price target on the stock to to $1.40 from $4, saying it considers the risk dynamics of the equity to have moved asymmetrically to the downside.

DRYS shares recently lost $0.28 to $1.58. In the past 52 weeks, shares of Athens, Greece-based company have traded between a low of $1.49 and a high of $5.00. Shares are down 46.70% year-over-year and 60.43% year-to-date.

The chart below shows where the equity has traded over the past 52-weeks, with the 50-day and 200-day moving averages included.

Shares of CME Group Inc. (CME), are down 1.78% to $80.26 in early trade after Wells Fargo (WFC) downgraded its rating to ‘Market Perform’ from ‘Outperform’. The bank also cut its valuation to a range of $75.00 to $85.00 from the prior range of $85.00 to $95.00.

CME shares are currently priced at 28.06x this year’s forecasted earnings, which makes them expensive compared to the industry’s 14.25x earnings multiple. Ticker has a forward P/E of 21.62 and t-12 price-to-sales ratio of 9.42. EPS for the same period is $2.86.

In the past 52 weeks, shares of Chicago, Illinois-based firm have traded between a low of $66.44 and a high of $84.71 and are now at $80.27. Shares are up 15.92% year-over-year and 6.03% year-to-date.

ON Semiconductor Corp (ONNN) was downgraded to ‘Sector Perform’ from ‘Outperform’ at Pacific Crest on Monday.

ONNN shares are currently priced at 14.07x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.15x earnings multiple. Ticker has a forward P/E of 6.70 and t-12 price-to-sales ratio of 1.14. EPS for the same period is $0.50.

ONNN recently declined 6.08% to $7.03. In the past 52 weeks, shares of Phoenix, Arizona-based COMPANY have traded between a low of $6.80 and a high of $10.07. Shares are up 6.86% year-over-year ; down 9.22% year-to-date.

Shares of Silicon Laboratories (SLAB) are down 3.31% in pre-market trade after Pacific Crest downgraded its rating to ‘Sector Perform’ from ‘Outperform’.

SLAB shares recently lost $1.26 to $36.80. The stock is down more than 11.22% year-over-year and has lost roughly 12.12% year-to-date. In the past 52 weeks, shares of Austin, Texas-company have traded between a low of $36.29 and a high of $54.00.

Silicon Laboratories Inc. has a total market cap of $1.60B.

Shares of VOXX International Corporation (VOXX) were downgraded to a ‘Market Perform’ from ‘Outperform’ by Cowen on Monday. The firm also cut its 12-month base case estimate to $7 from $13. Separately, the name was upgraded ‘Hold’ to ‘Buy’at Craig-Hallum. The firm attributed the downgrade on valuation and maintained its $10 price target.

VOXX International Corporation, currently valued at $173.72M, has a median Wall Street price target of $11.50 with a high target of $13.00. Approximately 281,015 shares have already changed hands, compared to the stock’s average daily volume of 253,034.

In the past 52 weeks, shares of Hauppauge, New York-based company have traded between a low of $6.61 and a high of $18.00 with the 50-day MA and 200-day MA located at $9.80 and $10.13 levels, respectively. Additionally, shares of VOXX trade at a P/E ratio of 1.02 and have a Relative Strength Index (RSI) and MACD indicator of 16.19 and -1.50, respectively.

VOXX currently prints a one year loss of about 50% and a year-to-date loss of around 56.65%.

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