CyberOptics (CYBE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of CyberOptics (NASDAQ:CYBE) from a strong sell rating to a hold rating in a report released on Tuesday.

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. “

Other equities analysts also recently issued research reports about the company. Dougherty & Co reiterated a buy rating and issued a $21.00 price objective (down previously from $35.00) on shares of CyberOptics 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, Lake Street Capital reduced their price target on CyberOptics from $27.00 to $15.00 and set a buy rating for the company in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. CyberOptics presently has a consensus rating of Hold and a consensus price target of $18.67.

CyberOptics (NASDAQ CYBE) traded up $0.10 on Tuesday, reaching $15.30. The company’s stock had a trading volume of 53,900 shares, compared to its average volume of 145,280. The company has a market capitalization of $106.06, a P/E ratio of 69.09, a price-to-earnings-growth ratio of 17.37 and a beta of -0.34. CyberOptics has a twelve month low of $11.35 and a twelve month high of $41.18.

CyberOptics (NASDAQ:CYBE) last posted its quarterly earnings data 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 business had revenue of $11.83 million during 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 EPS for the current fiscal year.

CyberOptics declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 2nd that authorizes the company to buyback $3.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of CyberOptics during the first quarter valued at $435,000. Bank of New York Mellon Corp boosted 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 valued at $1,075,000 after buying an additional 20,252 shares during the last quarter. Royal Bank of Canada boosted 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 valued at $4,263,000 after buying an additional 23,653 shares during the last quarter. Royce & Associates LP boosted 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 valued at $7,983,000 after buying an additional 115,100 shares during the last quarter. Finally, Heartland Advisors Inc. purchased a new stake in shares of CyberOptics during the second quarter valued at $2,065,000. Hedge funds and other institutional investors own 62.12% of the company’s stock.

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CyberOptics Company Profile

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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