CyberOptics Corporation (CYBE) Receives Buy Rating from Craig Hallum
Craig Hallum reiterated their buy rating on shares of CyberOptics Corporation (NASDAQ:CYBE) in a report released on Tuesday. The brokerage currently has a $20.00 target price on the scientific and technical instruments company’s stock, down from their prior target price of $25.00. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the stock. Dougherty & Co reduced their price target on shares of CyberOptics Corporation from $55.00 to $35.00 and set a buy rating for the company in a research report on Friday, July 28th. Lake Street Capital lowered their price target on CyberOptics Corporation from $27.00 to $15.00 and set a buy rating on the stock in a report on Tuesday. ValuEngine cut CyberOptics Corporation from a hold rating to a sell rating in a report on Friday, July 28th. Finally, Zacks Investment Research raised CyberOptics Corporation from a strong sell rating to a hold rating in a research note on Wednesday, June 7th. 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 company has an average rating of Hold and a consensus target price of $18.67.
CyberOptics Corporation (CYBE) traded down 0.65% on Tuesday, reaching $11.50. The company had a trading volume of 204,613 shares. The company has a market capitalization of $80.17 million, a PE ratio of 10.10 and a beta of -0.33. CyberOptics Corporation has a 52-week low of $11.35 and a 52-week high of $41.18. The company’s 50-day moving average is $15.15 and its 200-day moving average is $20.41.
CyberOptics Corporation (NASDAQ:CYBE) last issued its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). CyberOptics Corporation had a return on equity of 5.94% and a net margin of 14.32%. The company had revenue of $16.41 million for the quarter, compared to analyst estimates of $16.02 million. Equities analysts anticipate that CyberOptics Corporation will post $0.02 EPS for the current fiscal year.
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CyberOptics Corporation announced that its board has approved a stock repurchase program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in CyberOptics Corporation by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 31,784 shares of the scientific and technical instruments company’s stock valued at $824,000 after acquiring an additional 2,215 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in CyberOptics Corporation during the 1st quarter valued at about $2,906,000. SG Americas Securities LLC purchased a new position in CyberOptics Corporation during the 1st quarter valued at about $141,000. Victory Capital Management Inc. purchased a new position in CyberOptics Corporation during the 1st quarter valued at about $1,171,000. Finally, Royce & Associates LP increased its holdings in CyberOptics Corporation by 70.8% during the 1st quarter. Royce & Associates LP now owns 271,500 shares of the scientific and technical instruments company’s stock valued at $7,045,000 after acquiring an additional 112,500 shares in the last quarter. Institutional investors and hedge funds own 60.86% of the company’s stock.
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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