Canaccord Genuity Reiterates a 'Hold' on Cascade Microtech (CSCD); Reschedulings and Thailand Impact Results and Outlook
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Price: $21.86 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
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Canaccord Genuity reiterates a 'Hold' on Cascade Microtech (NASDAQ: CSCD) price target lowered to $4.00.
Canaccord analyst, Bobby Burleson, said, "We reiterate our rating on Cascade following a moderately disappointing Q3. While guidance was below our view, based largely on potential impact from Thailand floods, we note design activity remains robust at customers...Based on current backlog, potential impact from the floods in Thailand, and rescheduled Systems shipments, management guided revenue in the range of $25-$29 million, compared to our estimate of $29 million. EPS is expected to range from ($0.05) to $0.10, slightly below our estimate $0.05, at the midpoint."
For more ratings news on Cascade Microtech click here and for the rating history of Cascade Microtech click here.
Shares of Cascade Microtech closed at $3.50 yesterday.
Canaccord analyst, Bobby Burleson, said, "We reiterate our rating on Cascade following a moderately disappointing Q3. While guidance was below our view, based largely on potential impact from Thailand floods, we note design activity remains robust at customers...Based on current backlog, potential impact from the floods in Thailand, and rescheduled Systems shipments, management guided revenue in the range of $25-$29 million, compared to our estimate of $29 million. EPS is expected to range from ($0.05) to $0.10, slightly below our estimate $0.05, at the midpoint."
For more ratings news on Cascade Microtech click here and for the rating history of Cascade Microtech click here.
Shares of Cascade Microtech closed at $3.50 yesterday.
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