CyberOptics (NASDAQ:CYBE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.

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 topic of a number of other reports. Lake Street Capital reduced their target price on shares of CyberOptics from $27.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, October 3rd. Craig Hallum reiterated a “buy” rating and set a $20.00 target price (down 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 reiterated a “buy” rating and set a $21.00 target price (down from $35.00) on shares of CyberOptics in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.67.

CyberOptics (CYBE) opened at $15.20 on Tuesday. CyberOptics has a 12-month low of $11.35 and a 12-month high of $41.18. The stock has a market cap of $107.11, a P/E ratio of 69.77, a PEG ratio of 17.54 and a beta of -0.34.

CyberOptics (NASDAQ:CYBE) last announced its earnings results on Tuesday, October 24th. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. CyberOptics had a net margin of 12.86% and a return on equity of 3.21%. The company had revenue of $11.83 million for the quarter. equities research analysts expect that CyberOptics will post 0.04 EPS for the current fiscal year.

CyberOptics declared that its Board of Directors has authorized a stock 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP lifted 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 buying an additional 5,700 shares during the period. Vanguard Group Inc. lifted its holdings in CyberOptics by 18.2% in the second quarter. Vanguard Group Inc. now owns 321,386 shares of the scientific and technical instruments company’s stock valued at $6,637,000 after buying an additional 49,388 shares during the period. Heartland Advisors Inc. lifted its holdings in CyberOptics by 150.0% in the third quarter. Heartland Advisors Inc. now owns 250,000 shares of the scientific and technical instruments company’s stock valued at $4,063,000 after buying an additional 150,000 shares during the period. Royal Bank of Canada lifted its holdings in CyberOptics by 12.9% in the second quarter. Royal Bank of Canada now owns 206,479 shares of the scientific and technical instruments company’s stock valued at $4,263,000 after buying an additional 23,653 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in CyberOptics by 59.7% in the third quarter. Victory Capital Management Inc. now owns 161,420 shares of the scientific and technical instruments company’s stock valued at $2,623,000 after buying an additional 60,350 shares during the period. Institutional investors and hedge funds 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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