Notable Downgrades: Mattson Technology (MTSN), Yahoo (YHOO), OncoGenex (OGXI), Cepheid (CPHD), VMware (VMW)


Analysts at Needham downgraded Mattson Technology Inc. (MTSN) from ‘Buy’ to ‘Hold’ following E-Town $3.80 bid. The transaction price represents a 23% premium to MTSN’s closing PPS on Dec. 1, 2015

Mattson Technology rose $0.50 to $3.60 in recent trading.

Yahoo! Inc. (YHOO) was downgraded from ‘Buy’ to ‘Neutral’ at Nomura.

Shares have traded today between $34.77 and $36.39 with the price of the stock fluctuating between $27.20 to $51.68 over the last 52 weeks.

On valuation measures, Yahoo shares are currently changing hands at 143.74x this year’s forecasted earnings, compared to the industry’s 13.34x earnings multiple. Ticker has a t-12 price/sales ratio of 6.43. EPS for the same period registers at $0.25.

Shares of Yahoo have gained $2.23 to $35.94 in midday trading on Wednesday, giving it a market cap of roughly $34 billion. The stock traded as high as $51.68 in Dec. 31, 2014.

Stifel reported on Wednesday that they have lowered their rating for OncoGenex Pharmaceuticals, Inc. (OGXI). The firm has downgraded OGXI from ‘Buy’ to ‘Hold’ .

OncoGenex recently traded at $1.73, a loss of $0.89 over Tuesday’s closing price. The name has a current market cap of $51.56 million.

Cepheid (CPHD) had its rating lowered from ‘Outperform’ to ‘Market Perform’ by analysts at Wells Fargo (WFC) on Wednesday.

CPHD was down $2.76 at $32.45 in mid-day trade, moving within a 52-week range of $29.21 to $63.69. The name, valued at $2.35 billion, opened at $33.55.

VMware, Inc. (VMW) was reiterated a ‘Buy’ by MKM Partners analysts on Wednesday. The broker however, cut its price target on the name to $75 from $90, noting the virtualization infrastructure solutions provider appears to be exploring ways of shoring up its stock price and, in turn, EMC’s (EMC) in order to garner more support for the Dell acquisition.

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