Matthew Drapkin and Steven R. Becker, the managers of Becker Drapkin Management are optimistic about the prospects of Cascade Microtech, Inc. (NASDAQ:CSCD). According to a recent filing with the Securities and Exchange Commission, Becker Drapkin Management has increased its holding of the stock by 212,885 shares to a total of 1,179,921 shares, which account for 7.3% of the company’s common stock. Given the current price of $8.99, Becker Drapkin’s stake has a value in excess of $10.6 million.
Jim Simons, the renowned hedge fund guru, is also a fan of Cascade Microtech, Inc. (NASDAQ:CSCD). During the fourth quarter of 2013, his fund, Renaissance Technologies, upped its stake in the company by 59% to 529,700 shares, reportedly worth $4.93 million. Israel Englander is also bullish on this stock, with Millennium Management initiating a new position, which contains 41,085 shares as at the end of 2013.
Cascade Microtech, Inc. (NASDAQ:CSCD) engages in the production of probing solutions for semiconductor testing processes. It has a market cap of $145 million and does not pay a dividend. The stock is traded at a trailing Price to Earnings (P/E) ratio of 10.10, significantly lower than the industry average of 38.60. For the three months ending December 31, 2013, Cascade posted revenues of $34 million and earnings per share (EPS) of $0.56. For the current quarter the company is expected to register revenues of $32.5 million and earnings of $0.13 per share. The stock is touted as a strong buy with a price target of $11 per share.
Drapkin and Becker are particularly bullish on Comverse Inc(NASDAQ:CNSI), a provider of software and system solutions for businesses. During the last quarter of 2013, Becker Drapkin Management increased their stake by a massive 1347% taking their holding to 1.35 million shares valued at $52.3 million. Another important change was the 142% increase in Becker Drapkin’s investment in EMCORE Corporation (NASDAQ:EMKR). The fund currently holds 3.19 million shares valued at $16.3 million.