CyberOptics (CYBE) Stock Rating Upgraded by Zacks Investment Research

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CyberOptics (NASDAQ:CYBE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $23.00 target price on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.47% from the company’s previous close.

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. “

A number of other equities analysts have also recently commented on CYBE. Lake Street Capital boosted their price target on shares of CyberOptics from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Craig Hallum boosted their price target on shares of CyberOptics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. ValuEngine raised shares of CyberOptics from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. Finally, TheStreet raised shares of CyberOptics from a “c+” rating to a “b” rating in a research note on Wednesday, October 24th. Four analysts have rated the stock with a buy rating, CyberOptics currently has an average rating of “Buy” and an average price target of $23.00.

NASDAQ:CYBE traded up $0.29 during mid-day trading on Tuesday, hitting $20.82. 34,800 shares of the stock traded hands, compared to its average volume of 69,296. The stock has a market cap of $151.25 million, a P/E ratio of 160.15, a P/E/G ratio of 4.97 and a beta of -0.15. CyberOptics has a 12-month low of $12.90 and a 12-month high of $22.30.

CyberOptics (NASDAQ:CYBE) last released its quarterly earnings results on Wednesday, October 24th. The scientific and technical instruments company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. CyberOptics had a net margin of 3.57% and a return on equity of 3.27%. The business had revenue of $16.68 million during the quarter. On average, equities analysts anticipate that CyberOptics will post 0.36 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in CYBE. Wells Fargo & Company MN grew its stake in CyberOptics by 38.1% in the 1st quarter. Wells Fargo & Company MN now owns 12,302 shares of the scientific and technical instruments company’s stock worth $221,000 after buying an additional 3,393 shares in the last quarter. Northern Trust Corp grew its stake in CyberOptics by 4.1% in the 1st quarter. Northern Trust Corp now owns 87,907 shares of the scientific and technical instruments company’s stock worth $1,583,000 after buying an additional 3,428 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CyberOptics by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 487,136 shares of the scientific and technical instruments company’s stock valued at $8,768,000 after purchasing an additional 30,295 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of CyberOptics by 347.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,017 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 4,671 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in shares of CyberOptics by 16.2% in the 2nd quarter. Essex Investment Management Co. LLC now owns 106,652 shares of the scientific and technical instruments company’s stock valued at $1,856,000 after purchasing an additional 14,860 shares in the last quarter. 60.87% of the stock is owned by institutional investors and hedge funds.

CyberOptics Company Profile

CyberOptics Corporation develops and manufactures high precision sensing technology solutions worldwide. Its sensors are being used in surface mount technology (SMT), semiconductor, and metrology markets to improve yields and productivity. The company offers multi-reflection suppression sensors for application in the SMT, semiconductor, and metrology markets; and strobe inspection modules for use in 2D automated optical inspection (AOI) systems.

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