Notable Downgrades: Marvell Technology (MRVL), EOG Resources (EOG), Infinera (INFN), TECO Energy (TE)

Analysts at JP Morgan (JPM) downgraded Marvell Technology Group Ltd. (MRVL) from ‘Overweight’ to ‘Neutral’ in a research report issued to clients on Tuesday.

On valuation measures, Marvell Technology stock it’s trading at a forward P/E multiple of 14.82x, and at a multiple of 15.97x this year’s estimated earnings. The t-12-month revenue at Marvell Technology Group Ltd. is $3.47 billion. MRVL ‘s ROE for the same period is 7.07%.

Shares of the $5.61 billion market cap company are down 21.96% year-over-year and 24.57% year-to-date.

Marvell, currently with a median Wall Street price target of $15.00 and a high target of $17.50, dropped $0.02 to $10.83 in recent trading.

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

EOG Resources, Inc. (EOG) was downgraded from ‘Outperform’ to ‘Neutral’ at Credit Suisse (CS).

Shares have traded today between $75.45 and $78.17 with the price of the stock fluctuating between $68.15 to $106.09 over the last 52 weeks.

EOG Resources Inc. shares are currently changing hands at 30.65x this year’s forecasted earnings, compared to the industry’s 0.48x earnings multiple. Ticker has a t-12 price/sales ratio of 3.29. EPS for the same period registers at $2.54.

Shares of EOG Resources have gained $0.96 to $77.85 in mid-day trading on Tuesday, giving it a market cap of $42.75 billion. The stock traded as high as $106.09 in September 17, 2014.

Goldman Sachs (GS) reported on Tuesday that they have lowered their rating for Infinera Corporation (INFN). The firm has downgraded INFN from ‘Neutral’ to ‘Sell’.

Infinera Corp. recently traded at $20.47, a loss of $0.95 over Friday’s closing price. The name has a current market capitalization of $2.69 billion.

TECO Energy, Inc. (TE) had its rating lowered from ‘Buy’ to ‘Neutral’ by analysts at Mizuho on Tuesday. The firm sees shares as fairly valued at $24 from $27.50, versus $21.07 close. Currently there are no analysts that rate TE a ‘Buy’, or a ‘Sell’ versus 13 rating it a ‘Hold’.

TE was up $5.14 at $26.21 in mid-day trade, moving within a 52-week range of $16.98 to $26.33. The name, valued at $6.16 billion, opened at $25.74.

On valuation measures, Teco Energy Inc. shares are currently priced at 67.89x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.80. EPS for the same period registers at $0.39.

As for passive income investors, the firm pays stockholders $0.90 per share annually in dividends, yielding 4.27%.

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