Major NASDAQ Stock Downgrades (XLNX, SFSF, NFLX, JASO)

Xilinx, Inc. (NASDAQ:XLNX) shares down 1.43% to $26.26 after it was downgraded at Goldman Sachs to Sell from Neutral  and reduced the price target by $6 to $22.

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The firm thinks that CY2011 estimates are increasingly at risk due to: PLD communications revenues are running 50% above prior peak levels of mid-2008 and 25%-35% above normalized levels, carriers are likely to reduce CapEx by about 5% in 2011, Xilinx has higher exposure than Altera to wireline comms and defense, which they see under increased pressure.

SuccessFactors, Inc. (NASDAQ:SFSF) shares also downgraded by JMS  from Buy to Neutral.

JMS analyst says, "With the stock at $25.11 and essentially at our fair value estimate of $26, we see limited potential for further price appreciation for the time being-- and we are downgrading the stock to NEUTRAL. While we are positive on the company's fundamentals with its strong growth and improving margins, we regard the current valuation as balancing out risk/reward around current levels--and expect other names in our sector coverage to have greater shorter-term price appreciation."

Shares of SFSF are up 0.10% at $25.14.

Netflix, Inc. (NASDAQ:NFLX) shares are down 4% to $155.63 after analysts at Susquehanna downgraded the stock from Neutral to Sell.

Susquehanna notes that the downgrade is not a short call on the company's upcoming Q3 (Wednesday, October 20), but rather a valuation call. Susquehanna points out that Netflix shares are currently trading at 44x non-GAAP EPS levels -- a 5-year high multiple and a 35% premium over its peer group's average P/E ratio.

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JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) shares are down 3.86% to $8.97 after analysts at Auriga Downgraded the stock to Hold from Buy.

Auriga analyst says, "With shares of JASO trading meaningfully above our price target, we find it judicious to downgrade our rating to Hold. Long-term investors may still find further upside to the shares as we assign a below-average P/E of just 8x, given JASO's lack of vertical integration within the solar supply chain, while short-term investors should find the current price level attractive to recognize profits. We recognize that industry fundamentals remain strong, and that JASO will likely print Q3 results ahead of consensus estimates, however; our price target uses our 2011 EPS estimate, which we are unable to meaningfully raise at this time."

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