Zacks Investment Research upgraded shares of CyberOptics (NASDAQ:CYBE) from a strong sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “CyberOptics Corporation is a leading provider of sensors and inspection systems that provide process yield and through-put improvement solutions for the global electronic assembly and semiconductor capital equipment markets. The Company’s products are deployed on production lines that manufacture surface mount technology circuit boards and semiconductor process equipment. By increasing productivity and product quality, our sensors and inspection systems enable electronics manufacturers to strengthen their competitive positions in highly price-sensitive markets. Headquartered in Minneapolis, Minnesota, they conduct worldwide operations through facilities in North America, Asia and Europe. “
CYBE has been the topic of a number of other reports. Lake Street Capital cut their price target on CyberOptics from $27.00 to $15.00 and set a buy rating on the stock in a report on Tuesday, October 3rd. Craig Hallum restated a buy rating and set a $20.00 price target (down from $25.00) on shares of CyberOptics in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Dougherty & Co restated a buy rating and set a $21.00 price target (down from $35.00) on shares of CyberOptics in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. CyberOptics presently has an average rating of Hold and an average target price of $18.67.
CyberOptics (NASDAQ CYBE) traded up $0.10 during trading on Tuesday, hitting $15.40. The company’s stock had a trading volume of 26,070 shares, compared to its average volume of 90,617. The company has a market cap of $106.76, a PE ratio of 69.54, a price-to-earnings-growth ratio of 17.49 and a beta of -0.34. CyberOptics has a 52-week low of $11.35 and a 52-week high of $41.18.
CyberOptics (NASDAQ:CYBE) last posted its quarterly earnings results on Tuesday, October 24th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $11.83 million for the quarter. CyberOptics had a return on equity of 3.21% and a net margin of 12.86%. sell-side analysts anticipate that CyberOptics will post 0.04 earnings per share for the current year.
CyberOptics declared that its Board of Directors has authorized a share repurchase program on Monday, October 2nd that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new position in shares of CyberOptics during the first quarter worth approximately $435,000. Bank of New York Mellon Corp raised its position in shares of CyberOptics by 63.7% during the second quarter. Bank of New York Mellon Corp now owns 52,036 shares of the scientific and technical instruments company’s stock worth $1,075,000 after purchasing an additional 20,252 shares during the period. Royal Bank of Canada raised its position in shares of CyberOptics by 12.9% during the second quarter. Royal Bank of Canada now owns 206,479 shares of the scientific and technical instruments company’s stock worth $4,263,000 after purchasing an additional 23,653 shares during the period. Royce & Associates LP raised its position in shares of CyberOptics by 42.4% during the second quarter. Royce & Associates LP now owns 386,600 shares of the scientific and technical instruments company’s stock worth $7,983,000 after purchasing an additional 115,100 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in shares of CyberOptics during the second quarter worth approximately $2,065,000. 62.12% of the stock is currently owned by institutional investors.
Cyberoptics Corporation is a developer and manufacturer of sensing technology solutions. The Company’s products and services are used in the surface mount technology (SMT), semiconductor and three dimensional (3D) scanning solutions and services markets. Its products are sold into the electronics assembly, dynamic random access memory (DRAM) and flash memory, and semiconductor fabrication capital equipment markets.
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