CyberOptics Corporation (CYBE) to Repurchase $3.00 million in Shares
CyberOptics Corporation (NASDAQ:CYBE) declared that its Board of Directors has approved a stock buyback program, which authorizes the company to buyback $3.00 million in outstanding shares on Monday, October 2nd, EventVestor reports. This buyback authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
CyberOptics Corporation (CYBE) traded down 1.814% during midday trading on Wednesday, reaching $11.365. The company had a trading volume of 123,349 shares. The company has a 50-day moving average price of $15.15 and a 200-day moving average price of $20.41. CyberOptics Corporation has a one year low of $11.35 and a one year high of $41.18. The stock has a market capitalization of $79.23 million, a price-to-earnings ratio of 9.978 and a beta of -0.33.
CyberOptics Corporation (NASDAQ:CYBE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $16.41 million for the quarter, compared to the consensus estimate of $16.02 million. CyberOptics Corporation had a net margin of 14.32% and a return on equity of 5.94%. On average, equities analysts expect that CyberOptics Corporation will post $0.27 earnings per share for the current year.
Several brokerages have recently weighed in on CYBE. Dougherty & Co decreased their price target on CyberOptics Corporation from $55.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, July 28th. ValuEngine cut CyberOptics Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Craig Hallum set a $25.00 target price on shares of CyberOptics Corporation and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of CyberOptics Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, Lake Street Capital reduced their price objective on shares of CyberOptics Corporation from $27.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.67.
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CyberOptics Corporation 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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