Notable Downgrades: Ambarella (AMBA), SeaDrill (SDRL), Pericom Semiconductor Corp. (PSEM), Verint Systems (VRNT)

Analysts at Barrington Research downgraded Ambarella, Inc. (AMBA) from ‘Outperform’ to ‘Market Perform’ in a research report issued to clients on Thursday. The firm set its 12-month base case estimate for the name at $115 a share.

On valuation measures, Ambarella Inc. stock it’s trading at a forward P/E multiple of 21.08x, and at a multiple of 32.34x this year’s estimated earnings. The t-12-month revenue at Ambarella is $285.60 million. AMBA ‘s ROE for the same period is 32.58%.

Shares of the $2.38 billion market cap company are up 129.51% year-over-year and 61.63% year-to-date.

Ambarella Inc., currently with a median Wall Street price target of $107.50 and a high target of $123.00, dropped $5.97 to $76.01 in recent trading.

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

SeaDrill Limited (SDRL) was downgraded from ‘Neutral’ to ‘Underperform’ at Credit Suisse (CS).

Shares have traded today between $7.19 and $7.60 with the price of the stock fluctuating between $6.15 to $36.03 over the last 52 weeks.

SeaDrill Ltd. shares are currently changing hands at 3.21x this year’s forecasted earnings, compared to the industry’s 0.48x earnings multiple. Ticker has a t-12 price/sales ratio of 0.78. EPS for the same period registers at $2.26.

Shares of SDRL have lost $0.16 to $7.25 in midday trading on Thursday, giving it a market cap of roughly $3.60 billion.

The stock traded as high as $36.03 in September 4, 2014.

Sidoti reported on Thursday that they have lowered their rating for Pericom Semiconductor Corp. (PSEM). The firm has downgraded PSEM from ‘Buy’ to ‘Neutral’ .

Pericom Semiconductor Corp. recently traded at $16.73, a gain of $4.55 over Wednesday’s closing price. The name has a current market capitalization of $365.65 million.

As for passive income investors, the Milpitas, California.-based tech firm pays shareholders $0.24 per share annually in dividends, yielding 2.01%.

Verint Systems Inc. (VRNT) was reiterated a ‘Outperform’ by FBR Capital analysts on Thursday. The broker however, said it sees shares as fairly valued at $63 from $68, versus $51.67 close.

Currently there are 7 analysts that rate VRNT a ‘Buy’ vs. 2 analysts rating it a ‘Hold’. No analyst rates it ‘Sell’.

VRNT was down $2.57 at $49.10 in mid-day trade, moving within a 52-week range of $46.91 to $66.45. The name, valued at $3.01 billion, opened at $49.00.

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