Shares of STEC Inc. were under pressure and finally fell on Wednesday after B. Riley & Co. analyst Mike Crawford downgraded the stock to Neutral from Buy on a valuation basis. STEC is a leading global provider of Solid State technologies based in Santa Ana, California.

The shares fell nearly 4 percent and it closed at $20.14 on Wednesday. However, Crawford said that the company “has had a historic run—a run which we believe fairly encompasses the good news to date.”

According to the eminent analyst, STEC’s stock is at an all-time high. The company, a play on solid state drives, is up over 500 percent from its December lows. STEC has also been shipping its high-end solid-state drives (SSDs) to EMC Corp., Hitachi Data Systems Corp., Sun Microsystems Inc., IBM Corp. and Hewlett-Packard. Now, Crawford sees  STEC’s revenue jumping to $353 million in 2010, up from an estimated $286 million in 2009.

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