Benzinga's Top Downgrades

Analysts at Drexel Hamilton downgraded Avago Technologies Ltd (NASDAQ: AVGO) from Buy to Hold. The target price for Avago Technologies has been lowered from $180 to $125. Avago Technologies shares closed at $123.27 yesterday.

Goldman Sachs downgraded Ophthotech Corp (NASDAQ: OPHT) from Neutral to Sell. The target price for Ophthotech is set to $45. Ophthotech shares closed at $62.13 yesterday.

Analysts at Piper Jaffray downgraded Michael Kors Holdings Ltd (NYSE: KORS) from Neutral to Underweight. Michael Kors shares closed at $43.76 yesterday.

RBC Capital downgraded Shutterstock Inc (NYSE: SSTK) from Outperform to Sector Perform. Shutterstock shares closed at $34.61 yesterday.

Analysts at B. Riley downgraded Sally Beauty Holdings, Inc. (NYSE: SBH) from Buy to Neutral. The target price for Sally Beauty has been lowered from $37 to $30. Sally Beauty shares closed at $26.81 yesterday.

JP Morgan downgraded Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) from Overweight to Neutral. The target price for Alnylam Pharmaceuticals has been lowered from $125 to $115. Alnylam Pharmaceuticals shares closed at $119.87 yesterday.

Analysts Lake Street downgraded ANADIGICS, Inc. (NASDAQ: ANAD) from Buy to Hold. The target price for Anadigics has been lowered from $2 to $0.50. Anadigics shares closed at $0.570 yesterday.

Raymond James downgraded Ubiquiti Networks Inc (NASDAQ: UBNT) from Market Perform to Underperform. Ubiquiti Networks shares closed at $32.05 yesterday.

FBR Capital downgraded PHH Corporation (NYSE: PHH) from Outperform to Market Perform. PHH shares closed at $16.28 yesterday.

Analysts at Wedbush downgraded Broadcom Corporation (NASDAQ: BRCM) from Outperform to Neutral. The target price for Broadcom has been lowered from $61 to $54. Broadcom shares closed at $49.71 yesterday.