Analyst Downgrades: Tractor Supply Company, QUALCOMM, Inc., and Seagate Technology PLC

Analysts are weighing in on farming retailer Tractor Supply Company (NASDAQ:TSCO), semiconductor stock QUALCOMM, Inc. (NASDAQ:QCOM), and data storage specialist Seagate Technology PLC (NASDAQ:STX). Here's a quick roundup of today's bearish brokerage notes on TSCO, QCOM, and STX.

• TSCO is down 3.8% at $91.60, after the company downwardly revised its annual outlook and second-quarter guidance to reflect weak sales. No fewer than nine brokerage firms issued price-target cuts following the announcement, including UBS to $102 from $110. Even with this latest stumble -- which isn't the first time TSCO has lowered its earnings outlook this year -- the shares of Tractor Supply Company are still up 7.1% for the year, and even notched a new all-time high of $97.25 in April. Amid relatively low absolute volume, options players have been quite bullish towards the stock, with TSCO's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sitting at 7.93, higher than 93% of all other readings from the past year.

• QCOM is down 1.7% at $52.64, after Bernstein downgraded the stock to "market perform" from "outperform." Plus, QUALCOMM, Inc. filed a fresh round of patent-infringement complaints against Chinese smartphone company Meizu Technology for the second time in a week. QCOM is down 16% year-over-year, and bearish option traders have been keener than usual on the stock. QCOM's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.78 sits in the 79th percentile of its annual range.

• STX is up 0.1% at $23.98, after the company said it will cut about 1,600 positions, or 3% of its workforce, due to drooping demand in the PC market. Elsewhere, Craig-Hallum cut its price target for Seagate Technology PLC to $30 from $40. STX shares have lost half of their value over the past year, and hit a four-year low of $18.42 in May. In the options pits STX's 50-day ISE/CBOE/PHLX call/put volume ratio of 3.09 sits just one point off a 52-week peak, suggesting calls have been bought to open over puts at a near-annual-high clip.