Cascade Microtech, Inc. (CSCD) Rating Reiterated by Scotiabank
Cascade Microtech, Inc. (NASDAQ:CSCD)‘s stock had its “outperform” rating restated by investment analysts at Scotiabank in a research note issued to investors on Friday. They currently have a $14.75 target price on the stock, up from their prior target price of $12.75. Scotiabank’s price objective suggests a potential downside of 32.53% from the company’s previous close.
CSCD has been the subject of a number of other research reports. CIBC raised shares of Cascade Microtech from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, August 29th. RBC Capital Markets reissued an “underperform” rating and set a $8.00 target price on shares of Cascade Microtech in a research note on Monday, August 22nd. Desjardins raised shares of Cascade Microtech from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday. Finally, B. Riley reissued a “neutral” rating and set a $21.00 target price on shares of Cascade Microtech in a research note on Sunday, July 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $14.88.
Shares of Cascade Microtech (NASDAQ:CSCD) remained flat at $21.86 during mid-day trading on Friday. Cascade Microtech has a 52-week low of $12.27 and a 52-week high of $22.01. The firm has a 50-day moving average of $20.86 and a 200-day moving average of $19.24.
A number of hedge funds and other institutional investors have recently made changes to their positions in CSCD. Renaissance Technologies LLC increased its position in shares of Cascade Microtech by 25.2% in the first quarter. Renaissance Technologies LLC now owns 1,039,600 shares of the company’s stock valued at $21,437,000 after buying an additional 209,000 shares during the period. Yakira Capital Management Inc. purchased a new position in shares of Cascade Microtech during the first quarter valued at approximately $6,678,000. Gardner Lewis Asset Management L P purchased a new position in shares of Cascade Microtech during the first quarter valued at approximately $4,912,000. State Street Corp increased its position in shares of Cascade Microtech by 8.3% in the first quarter. State Street Corp now owns 191,422 shares of the company’s stock valued at $3,947,000 after buying an additional 14,604 shares during the period. Finally, Springbok Capital Management LLC purchased a new position in shares of Cascade Microtech during the first quarter valued at approximately $2,603,000.
About Cascade Microtech
Cascade Microtech, Inc is a designer, developer, manufacturer and marketer of wafer probing, thermal and reliability solutions for the electrical measurement and testing of semiconductor devices. The Company operates in two business segments: Systems and Probes. The Systems business segment is engaged in the sale of probe stations, thermal subsystems and reliability test systems.
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