Notable Downgrades: UTi Worldwide Inc. (UTIW), Altera Corp. (ALTR), Steel Dynamics Inc. (STLD), ON Semiconductor Corp. (ONNN), Achaogen, Inc. (AKAO)

Analysts at RBC Capital Markets downgraded UTi Worldwide Inc. (UTIW) from ‘Outperform‘ to ‘Sector Perform‘ in a research report issued to clients on Wednesday.

The target price for UTIW is lowered from $13 to $11.

On valuation measures, UTi Worldwide Inc. stock it’s trading at a forward P/E multiple of 20.32x this year’s estimated earnings. The t-12-month revenue at UTi Worldwide Inc. is $4.29 billion. UTIW ‘s ROE for the same period is (17.52%).

Shares of the $1.06 billion market cap company are up 16.15% year-over-year and 1.91% year-to-date.

UTIW currently with a median Wall Street price target of $13.50 and a high target of $19.00, dropped $2.23 to $10.07 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

Altera Corp. (ALTR) was downgraded from ‘Buy‘ to ‘Hold‘ at Argus. Shares have traded today between $42.22 and $42.75 with the price of the stock fluctuating between $30.47 to $45.00 over the last 52 weeks.

Altera Corp. shares are currently changing hands at 27.91x this year’s forecasted earnings, compared to the industry’s 5.29x earnings multiple. Ticker has a t-12 price/sales ratio of 6.68. EPS for the same period registers at $1.52.

Shares of ALTR have lost $0.48 to $42.43 in mid-day trading on Wednesday, giving it a market cap of roughly $12.77 billion. The stock traded as high as $45.00 in Mar 27, 2015.

Nomura reported on Wednesday that they have lowered their rating for Steel Dynamics Inc. (STLD). The firm has downgraded STLD from ‘Buy‘ to ‘Neutral‘.

Steel Dynamics Inc. recently traded at $19.76, a loss of $0.34 over Tuesday’s closing price. The name has a current market capitalization of $4.77 billion.

As for passive income investors, the company pays shareholders $0.55 per share annually in dividends, yielding 2.80%. Five year average dividend yield currently stands at 2.50%.

ON Semiconductor Corp. (ONNN) had its rating lowered from ‘Neutral‘ to ‘Sell‘ by analysts at Goldman (GS) on Wednesday. Currently there are 10 analysts that rate ONNN a ‘Buy’, 1 analysts rate it a ‘Sell’, and 6 rate it a ‘Hold’. ONNN was down $0.75 at $11.36 in mid-day trade, moving within a 52-week range of $6.76 to $13.31. The name, valued at $4.90 billion, opened at $11.44.

On valuation measures, ON Semiconductor Corp. shares are currently priced at 26.42x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.65. EPS for the same period registers at $0.43.

Achaogen, Inc. (AKAO) was reiterated a ‘Buy’ by Needham analysts on Wednesday. The broker also cut its price target on the stock to $15 from $21.

In the past 52 weeks, shares of the South San Francisco, California-based firm have traded between a low of $7.69 and a high of $17.44 and are now at $8.01. Shares are down 36.87% year-over-year and 25.21% year-to-date.

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