Notable Downgrades: SanDisk (SNDK), Silicon Motion Technology (SIMO), Walt Disney (DIS), Urban Outfitters (URBN)


Analysts at BofA/Merrill (BAC) downgraded SanDisk Corp. (SNDK) from ‘Buy‘ to ‘Underperform‘ in a research report issued to clients on Tuesday.

On valuation measures, SanDisk Corp. stock it’s trading at a forward P/E multiple of 13.19x, and at a multiple of 22.27x this year’s estimated earnings. The t-12-month revenue at SanDisk Corp. is $6.05 billion. SNDK ‘s ROE for the same period is 9.15%.

Shares of the $11.65 billion market cap company are down 37.07% year-over-year and 39.81% year-to-date.

SanDisk Corp., currently with a median Wall Street price target of $69.50 and a high target of $85.00, dropped $1.20 to $57.00 in recent trading.

Silicon Motion Technology Corp. (SIMO) was downgraded from ‘Buy‘ to ‘Underperform‘ at BofA/Merrill (BAC). Shares have traded today between $23.30 and $24.25 with the price of the stock fluctuating between $21.04 to $37.60 over the last 52 weeks.

Silicon Motion Technology Corp. ADR shares are currently changing hands at 13.52x this year’s forecasted earnings, compared to the industry’s 12.77x earnings multiple. Ticker has a t-12 price/sales ratio of 2.56. EPS for the same period registers at $1.76.

Shares of Silicon Motion have lost $1.15 to $23.78 in midday trading on Tuesday, giving it a market cap of $818.57 million. The stock traded as high as $37.60 in June 26, 2015.

Wells Fargo (WFC) reported on Tuesday that they have lowered their rating for The Walt Disney Company (DIS). The firm has downgraded DIS from ‘Outperform‘ to ‘Market Perform‘.

Walt Disney Co. recently traded at $107.22, a loss of $1.83 over Monday’s closing price. The name has a current market capitalization of $180.97 billion.

As for passive income investors, the company pays shareholders $1.32 per share annually in dividends, yielding 1.20%. Five year average dividend yield currently stands at 1.10%.

Urban Outfitters Inc. (URBN) was reiterated as ‘Neutral’ in a research report issued to clients on Tuesday. The firm currently has a $34 price objective on the stock, 4 points lower from their previous price target.

URBN closed at $32.23 on Monday and is currently trading down $0.35.

In the past 52 weeks, shares of Philadelphia, Pennsylvania-based specialty retail company have traded between a low of $27.89 and a high of $47.25 and are now trading at $31.88.

Shares are down 10.60% year-over-year and 8.26% year-to-date.

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