Cascade Microtech Stock Price Down 6.4% Following Analyst Downgrade (CSCD)
Shares of Cascade Microtech (NASDAQ:CSCD) dropped 6.4% during trading on Thursday after Canaccord Genuity lowered their price target on the stock from $16.00 to $15.00, Stock Ratings Network reports. The company traded as low as $11.14 and last traded at $11.16, with a volume of 116,244 shares trading hands. The stock had previously closed at $11.92.
Several other analysts have also recently commented on the stock. Analysts at Craig Hallum initiated coverage on shares of Cascade Microtech in a research note on Tuesday, June 3rd. They set a “buy” rating and a $15.00 price target on the stock. Separately, analysts at Lake Street Capital initiated coverage on shares of Cascade Microtech in a research note on Friday, May 30th. They set a “buy” rating and a $13.00 price target on the stock. Finally, analysts at B. Riley initiated coverage on shares of Cascade Microtech in a research note on Wednesday, May 14th. They set a “buy” rating and a $14.00 price target on the stock.
The stock has a 50-day moving average of $12.61 and a 200-day moving average of $10.85. The company has a market cap of $181.0 million and a P/E ratio of 12.96.
Cascade Microtech (NASDAQ:CSCD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.02. The company had revenue of $33.50 million for the quarter, compared to the consensus estimate of $33.50 million. Analysts expect that Cascade Microtech will post $0.55 EPS for the current fiscal year.
Cascade Microtech, Inc designs, develops, manufactures and markets wafer probing and test socket solutions for the electrical measurement and testing of semiconductor devices.
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