CyberOptics (CYBE) Downgraded by Zacks Investment Research

CyberOptics (NASDAQ:CYBE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Friday.

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 subject of a number of other research reports. Lake Street Capital dropped their target price on CyberOptics from $27.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, October 3rd. Craig Hallum restated a “buy” rating and set a $20.00 target price (down previously from $25.00) on shares of CyberOptics in a research 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 target price (down previously from $35.00) on shares of CyberOptics in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. CyberOptics currently has a consensus rating of “Hold” and an average target price of $18.67.

CyberOptics (NASDAQ CYBE) traded down $0.05 during mid-day trading on Friday, hitting $16.90. The stock had a trading volume of 89,368 shares, compared to its average volume of 87,275. The company has a market capitalization of $117.81, a P/E ratio of 17.60, a P/E/G ratio of 2.93 and a beta of -0.31. CyberOptics has a 12 month low of $11.35 and a 12 month high of $41.18.

CyberOptics (NASDAQ:CYBE) last released its earnings results on Tuesday, October 24th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The company 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 expect that CyberOptics will post 0.04 EPS for the current fiscal year.

CyberOptics announced that its board has authorized a share repurchase program on Monday, October 2nd that permits the company to buyback $3.00 million in shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds have recently added to or reduced their stakes in CYBE. PDT Partners LLC increased its holdings in CyberOptics by 2.1% in the second quarter. PDT Partners LLC now owns 37,839 shares of the scientific and technical instruments company’s stock valued at $781,000 after purchasing an additional 785 shares during the last quarter. New Jersey Better Educational Savings Trust increased its holdings in CyberOptics by 25.0% in the third quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the scientific and technical instruments company’s stock valued at $325,000 after purchasing an additional 4,000 shares during the last quarter. White Pine Capital LLC increased its holdings in CyberOptics by 19.7% in the second quarter. White Pine Capital LLC now owns 31,325 shares of the scientific and technical instruments company’s stock valued at $647,000 after purchasing an additional 5,150 shares during the last quarter. Royce & Associates LP increased its holdings in CyberOptics by 1.5% in the third quarter. Royce & Associates LP now owns 392,300 shares of the scientific and technical instruments company’s stock valued at $6,375,000 after purchasing an additional 5,700 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in CyberOptics in the second quarter valued at about $151,000. Institutional investors own 62.12% of the company’s stock.

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About CyberOptics

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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