Zacks Investment Research lowered shares of CyberOptics (NASDAQ:CYBE) from a hold rating to a strong sell rating in a report issued on Friday morning.

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. “

Other equities research analysts have also recently issued research reports about the stock. Dougherty & Co reaffirmed a buy rating and issued a $21.00 price objective (down previously from $35.00) on shares of CyberOptics in a research note on Tuesday, October 3rd. Craig Hallum reaffirmed a buy rating and issued a $20.00 price objective (down previously from $25.00) on shares of CyberOptics in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Lake Street Capital cut their price objective on shares of CyberOptics from $27.00 to $15.00 and set a buy rating for the company in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $18.67.

Shares of CyberOptics (NASDAQ:CYBE) traded down $0.30 during trading hours on Friday, hitting $16.60. 59,800 shares of the stock were exchanged, compared to its average volume of 81,780. The company has a market cap of $115.72, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 3.00 and a beta of -0.31. CyberOptics has a 1 year low of $11.35 and a 1 year high of $41.18.

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

CyberOptics announced that its Board of Directors has initiated a share buyback plan on Monday, October 2nd that allows the company to repurchase $3.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of CyberOptics in the 2nd quarter valued at $151,000. Boothbay Fund Management LLC purchased a new stake in shares of CyberOptics in the 3rd quarter valued at $183,000. Teachers Advisors LLC purchased a new stake in shares of CyberOptics in the 2nd quarter valued at $247,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of CyberOptics in the 2nd quarter valued at $250,000. Finally, California State Teachers Retirement System purchased a new stake in shares of CyberOptics in the 2nd quarter valued at $252,000. 62.12% of the stock is owned by institutional investors.

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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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