Tech ratings changes: Himax, ReneSola, Palo Alto, Alliance Fiber

|About: Alliance Fiber Optic Produc... (AFOP)|By:, SA News Editor

Himax (HIMX -8.6%) has received a two-notch downgrade to Underperform from BofA/Merrill. The firm is worried about tough competition in multiple markets, and thinks margin expansion will be difficult without a major ramp in LCoS microdisplay volumes.

ReneSola (SOL +2.1%) has been upgraded to Buy by Roth. Shares followed momentum plays lower yesterday in spite of a strong Q4 beat and guidance for 2014 module shipments of 2.3GW-2.5GW (up from 2013's 1.73GW).

Palo Alto Networks (PANW +2.9%) has been upgraded to Outperform by FBR a day after announcing it's buying endpoint security startup Cyvera for $200M. FBR praised the deal, while arguing more security M&A could be on tap.

Alliance Fiber (AFOP +6%) has been started at Buy by Needham.

Varonis Systems (VRNS +4.9%) has received four bullish ratings and no neutral/bearish ones on underwriter coverage day. Shares are still down sharply from their post-IPO high of $56.80, but remain well above their $22 IPO price.