Notable Downgrades: Applied Materials (AMAT), Nvidia (NVDA), Allergan (AGN), Marvell Technology (MRVL)

Analysts at DA Davidson downgraded Applied Materials, Inc. (AMAT) from ‘Buy’ to ‘Neutral’ in a research report issued to clients on Wednesday. The firm suggests investors focus on semiconductor equipment names that have similarly strong growth prospects but more attractive relative valuations.

On valuation measures, Applied Materials stock it’s trading at a forward P/E multiple of 12.85x, and at a multiple of 19.23x this year’s estimated earnings. The name’s t-12-month revenue is $9.56 billion. AMAT ‘s ROE for the same period is 17.26%.

Shares of the $23.72 billion market cap company are down 3.37% year-over-year ; up 12.82% year-to-date.

AMAT rose $0.03 to $20.975 in recent trading.

Nvidia Corporation (NVDA) was downgraded from ‘Buy’ to ‘Hold’ at Stifel. The firm recommends investors step to the sidelines and wait for a lower valuation to accumulate the stock.

Shares have traded today between $34.63 and $35.79 with the price of the stock fluctuating between $19.09 to $36.64 over the last 52 weeks.

Nvidia Corp. shares are currently changing hands at 33.01x this year’s forecasted earnings, compared to the industry’s 1.20x earnings multiple. Ticker has a t-12 price/sales ratio of 3.85. EPS for the same period registers at $1.08.

Shares of Nvidia have lost $0.09 to $35.66 in mid-day trading on Wednesday, giving it a market cap of roughly $19.32 billion. The stock traded as high as $36.64 in April 4, 2016.

Mizuho reported on Wednesday that they have lowered their rating for Allergan plc (AGN). The firm has downgraded AGN from ‘Buy’ to ‘Neutral’ and lowered its price target to $250 from $330.

Allergan recently traded at $243.99, a gain of $7.44 over Tuesday’s closing price. The name has a current market capitalization of $96.41 billion.

As for passive income investors, the company pays shareholders $0.20 per share annually in dividends, yielding 0.10%.

Marvell Technology Group Ltd. (MRVL) had its rating lowered from ‘Buy’ to ‘Hold’ by analysts at Standpoint Research on Wednesday.

Currently there are 5 analysts that rate MRVL a ‘Buy’, 2 analysts rate it a ‘Sell’, and 18 rate it a ‘Hold’.

MRVL was down $0.21 at $10.67 in midday trade, moving within a 52-week range of $7.40 to $15.47. The name, valued at $5.52 billion, opened at $10.99.

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