CyberOptics (CYBE) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of CyberOptics (NASDAQ:CYBE) from a strong sell rating to a hold rating in a research report sent to investors 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. “

A number of other research analysts also recently issued reports on the company. Craig Hallum set a $25.00 price target on CyberOptics and gave the stock a buy rating in a research note on Wednesday, August 23rd. Dougherty & Co reiterated a buy rating and issued a $21.00 target price (down from $35.00) on shares of CyberOptics in a research note on Tuesday, October 3rd. Finally, Lake Street Capital lowered their target price on CyberOptics from $27.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $18.67.

CyberOptics (NASDAQ CYBE) traded down $0.15 during trading hours on Tuesday, reaching $15.35. The company had a trading volume of 90,600 shares, compared to its average volume of 146,102. The stock has a market cap of $108.15, a P/E ratio of 70.46, a PEG ratio of 17.71 and a beta of -0.34. CyberOptics has a 12-month low of $11.35 and a 12-month high of $41.18.

CyberOptics (NASDAQ:CYBE) last released 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%. research analysts expect that CyberOptics will post 0.04 EPS for the current fiscal year.

CyberOptics announced that its board has authorized a share buyback plan on Monday, October 2nd that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of CYBE. Vanguard Group Inc. boosted its stake in shares of CyberOptics by 2.3% in the first quarter. Vanguard Group Inc. now owns 271,998 shares of the scientific and technical instruments company’s stock valued at $7,058,000 after buying an additional 6,180 shares in the last quarter. Geode Capital Management LLC raised its holdings in CyberOptics by 14.6% during the first quarter. Geode Capital Management LLC now owns 45,059 shares of the scientific and technical instruments company’s stock worth $1,169,000 after purchasing an additional 5,727 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in CyberOptics during the first quarter worth $435,000. Russell Investments Group Ltd. acquired a new position in CyberOptics during the second quarter worth $461,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in CyberOptics during the second quarter worth $250,000. 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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