Top Analyst Upgrades and Downgrades: Applied Materials, Extreme Networks, Mylan, NXP, Roku, Seagate, Yelp, Zynga and More

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NXP Semiconductor N.V. (NASDAQ: NXPI) was started with a Neutral rating and assigned a $106 price target (versus a $95.80 close) at Goldman Sachs.

ON Semiconductor Corp. (NASDAQ: ON) was downgraded to Underweight from Equal Weight and the target price was cut to $18.50 from $20.00 at Morgan Stanley.

Pacific Biosciences of California Inc. (NASDAQ: PACB) was started as Overweight and assigned a $5 target price (versus a $4.05 close) at Cantor Fitzgerald.

Roku Inc. (NASDAQ: ROKU) was last seen trading up almost 10% at $51.85 after earnings. KeyBanc Capital Markets maintained it as Overweight and raised the target to $67 from $54. Roku’s post-IPO high is still up at $58.80.

Ryanair Holdings PLC (NASDAQ: RYAAY) was downgraded to Market Perform from Outperform at Raymond James. Its American depositary shares closed at $101.06 on Wednesday, and their 52-week trading range is $98.27 to $127.61.

Seagate Technology Inc. (NASDAQ: STX) was downgraded to Sell from Neutral and the price target was cut to $44 from $50 at Goldman Sachs, noting that the fundamentals will peak in the second half of this year as the hard disk drive market remains cyclical but has secular challenges as solid state drives are set to take over.

Southern Co. (NYSE: SO) was downgraded to Equal Weight from Overweight at Barclays. Credit Suisse downgraded it to Underperform from Neutral with a $43 price target.

TechTarget Inc. (NASDAQ: TTGT) was downgraded to Hold from Buy with a $32 price target at Craig-Hallum.

Wright Medical Group Inc. (NASDAQ: WMGI) was raised to Buy from Neutral with a $34 price objective (versus a $26.30 close) at Merrill Lynch.

Yelp Inc. (NYSE: YELP) was last seen trading up 15% at $43.90 after beating earnings expectations. Stifel maintained it as Hold and raised the price target to $42 from $40.

Zynga Inc. (NASDAQ: ZNGA) was started as Underweight and the price target was set at $3.70 (versus a $3.95 close) at Barclays. Zynga has a 52-week range of $3.20 to $4.57, and the consensus target price was last seen at $4.89.

Wednesday’s top analyst calls included AECOM, CyberArk, Dillard’s, Hasbro, Mattel, Newell, Papa John’s, Shopify, Snap, Tesla and many more.

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