CyberOptics Corporation (CYBE) Announces Earnings Results, Beats Expectations By $0.03 EPS
CyberOptics Corporation (NASDAQ:CYBE) posted its quarterly earnings data on Tuesday. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03, Bloomberg Earnings reports. CyberOptics Corporation had a return on equity of 5.94% and a net margin of 14.32%.
Shares of CyberOptics Corporation (CYBE) traded up 3.02% during mid-day trading on Tuesday, reaching $13.65. The company’s stock had a trading volume of 160,842 shares. CyberOptics Corporation has a 12 month low of $11.35 and a 12 month high of $41.18. The company’s 50-day moving average is $14.16 and its 200 day moving average is $19.11. The firm has a market cap of $95.15 million, a price-to-earnings ratio of 11.98 and a beta of -0.33.
A hedge fund recently bought a new stake in CyberOptics Corporation stock. California State Teachers Retirement System acquired a new stake in CyberOptics Corporation (NASDAQ:CYBE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,200 shares of the scientific and technical instruments company’s stock, valued at approximately $252,000. California State Teachers Retirement System owned 0.18% of CyberOptics Corporation at the end of the most recent quarter. Institutional investors and hedge funds own 60.56% of the company’s stock.
CyberOptics Corporation announced that its Board of Directors has authorized a share buyback program on Monday, October 2nd that allows the company to buyback $3.00 million in shares. This buyback authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
A number of analysts have weighed in on the company. ValuEngine downgraded CyberOptics Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. 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 report on Friday, July 28th. Craig Hallum set a $25.00 price target on CyberOptics Corporation and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Finally, Lake Street Capital decreased their price target on CyberOptics Corporation from $27.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.67.
About CyberOptics Corporation
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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