Downgrades

Standpoint Research downgraded Lam Research (NASDAQ: LRCX) from Buy to Hold.

Analyst Ronnie Moas comments, "Of our open names, on a valuation basis, LRCX looks like the weakest link here at $48 and 13X estimates for 2014. The shares are up 36% in the last six months versus 18% for the Nasdaq and the S&P-500.... LRCX may make a run towards its all-time high of $58 in 2013-2014 if the market continues to grind higher. That being said, given the recent absolute and relative move in LRCX I can no longer leave my highest rating attached to this name... In my opinion the good news is already priced into this stock and LRCX will most likely track the Nasdaq going forward from here."

For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.

Shares of Lam Research closed at $47.92 yesterday, with a 52 week range of $31.17-$48.37.

Sidoti downgraded Power Integrations (NASDAQ: POWI) from Buy to Neutral.

For an analyst ratings summary and ratings history on Power Integrations click here. For more ratings news on Power Integrations click here.

Shares of Power Integrations closed at $45.18 yesterday, with a 52 week range of $27.20-$46.12.

Albert Fried & Company downgraded Pandora (NYSE: P) from Overweight to Market Perform with a price target of $18.00. Analyst Rich Tullo likes the company's long term but doesn't see tremendous upside near term.

"Pandora offers a great service and revenue growth potential. However, great Companies do not always offer attractive returns for equity investors. In this case given the roughly 10% upside to our $18 Target we think Pandora is a good hold but the easy money was already earned by value investors," said Tullo.

For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.

Shares of Pandora closed at $16.20 yesterday, with a 52 week range of $7.08-$17.16.

(Updated - May 22, 2013 9:31 AM EDT)

JPMorgan downgraded SodaStream International (NASDAQ: SODA) from Overweight to Neutral with a price target of $70.00 (from $56.00). Analyst John Faucher thinks the company still has "plenty of fizz", or earnings growth, but he thinks this is already priced in.

"Back in the fall, we performed a sum-of-the-parts analysis that implied the equity value for the Americas region was only $19.5M or 0.1x sales. We have performed the same analysis using our 2014 forecasts. The implied value of the Americas is now approximately $421M or 1.65x 2014E sales. While still not expensive, we think the stock currently is reflecting growth for the region, but as top line slows given fewer new doors, we see some short-term risk," said Faucher.

For an analyst ratings summary and ratings history on SodaStream International (NASDAQ: SODA) click here. For more ratings news on SodaStream International click here.

Shares of SodaStream International closed at $64.83 yesterday, with a 52 week range of $29.44-$66.69.

(Updated - May 22, 2013 9:25 AM EDT)

Exane BNP Paribas downgraded BlackBerry (NASDAQ: BBRY) from Neutral to Underperform. Analyst Alexander Peterc said BlackBerry's profit pools are drying up, a reference to the company's gross profit from services.

“While the BB10 device news flow is likely to remain the primary driver for the shares in the short-term, BlackBerry's long-term profitability prospects hinge essentially on the longevity of its Service revenues, which are unsustainable, in our view," said Peterc.

"BlackBerry's Software and Services (85% gross margin) revenue will come under pressure as consumers migrate to BB10, which renders BIS service, currently more than half of Software & Service revenue, redundant. Concurrently, the corporate business (BES) is transitioning to mobile device management, a smaller and highly competitive market. This transition is a significant threat to BlackBerry's operating model, as Software & Services gross profit is about to shrink from nearly USD3bn to less than USD1bn over the next three years," added the analyst.

For an analyst ratings summary and ratings history on BlackBerry (NASDAQ: BBRY) click here. For more ratings news on BlackBerry click here.

Shares of BlackBerry closed at $14.77 yesterday, with a 52 week range of $12.55-$17.22.