Notable Downgrades: Stratasys (SSYS), QLogic (QLGC), Whole Foods Market (WFM), Synaptics Inc. (SYNA)

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Analysts at Dougherty & Company downgraded Stratasys Ltd. (SSYS) from ‘Buy‘ to ‘Neutral‘ in a research report issued to clients on Friday.

On valuation measures, Stratasys Ltd. stock it’s trading at a forward P/E multiple of 22.00x next year’s estimated earnings. The t-12-month revenue at Stratasys Ltd. is $771.92 million. SSYS return on equity for the same period is (14.06%).

Shares of the $1.63 billion market cap company are down 68.87% year-over-year and 60.69% year-to-date.

Stratasys Ltd., currently with a median Wall Street price target of $42 and a high target of $56, dropped $0.64 to $32.03 in recent trading.

QLogic Corp. (QLGC) was downgraded from ‘Buy‘ to ‘Neutral‘ at DA Davidson. The name was also downgraded to ‘Hold’ from ‘Buy’ at Summit Research.

Shares have traded today between $8.39 and $9.31 with the price of the stock fluctuating between $8.39 to $15.93 over the last 52 weeks.

QLogic Corp. shares are currently changing hands at 15.93x this year’s forecasted earnings, compared to the industry’s 15.43x earnings multiple. Ticker has a t-12 price/sales ratio of 1.91. EPS for the same period registers at $0.57.

Shares of QLGC have lost $2.30 to $9.08 in midday trading on Friday, giving it a market cap of roughly $798 million. The stock traded as high as $15.93 in June 4, 2015.

Whole Foods Market, Inc. (WFM) rating of ‘Outperform’ was reiterated today at Imperial Capital but with a price target cut of $53 from $65. The firm believes ticker’s current pps represents an opportunity to own a high quality, consumer growth story trading at levels that they believe overestimates the long-term risk.

Whole Foods Market Inc. recently traded at $36.40, a gain of $0.32 over Thursday’s closing price. The name has a current market capitalization of $13.04 billion.

As for passive income investors, the Austin, Texas-based retailer pays shareholders $0.52 per share annually in dividends, yielding 1.30%. Five year average dividend yield currently stands at 1.10%.

Shares of Synaptics Inc. (SYNA) are down $1.08 to $78.19 in midday trading after Dougherty & Company reiterated its ‘Buy’ rating while lowering  its 12-month base case estimate on the name by 12 points to $78 a share.

Synaptics Inc. on Thursday reported fourth quarter’15 result. The maker of touch-screen technology said it earned $1.57 per share, well below the $1.66 per share analysts were expecting. Revenue rose 52.1% yoy to $478.92 million, above views for $482.57 million.

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