Notable Downgrades: NetApp (NTAP), Otonomy, Inc. (OTIC), Marvell Technology (MRVL)

Analysts at Argus downgraded NetApp, Inc. (NTAP) from ‘Buy‘ to ‘Hold‘ in a research report issued to clients on Friday.

On valuation measures, NetApp Inc. stock it’s trading at a forward P/E multiple of 12.66x, and at a multiple of 17.46x this year’s estimated earnings. The t-12-month revenue at NetApp Inc. is $6.23 billion. NTAP ‘s ROE for the same period is 16.76%.

Shares of the $10.34 billion market cap company are down 6.27% year-over-year and 22.68% year-to-date.

NetApp Inc., currently with a median Wall Street price target of $35.00 and a high target of $46.00, rose $1.40 to $33.17 in recent trading.

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

Otonomy, Inc. (OTIC) was downgraded from ‘Overweight‘ to ‘Neutral‘ at JP Morgan (JPM).

Shares of OTIC have lost $6.28 to $24.77 in mid-day trading on Friday, giving it a market cap of roughly $598 million. The stock traded as high as $41.99 in March 11, 2015.

Marvell Technology Group Ltd. (MRVL) rating of ‘Buy’ was reiterated today at MKM Partners with a price target decrease of $16 from $16.40 (versus a $14.37 previous close).

MRVL shares recently lost $1.11 to $13.26. In the past 52 weeks, shares of the company have traded between a low of $11.65 and a high of $16.78. Shares are down 5.44% year-over-year and less than one percent year-to-date.

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