Announcement • Aug 09
Nordson Corporation (NasdaqGS:NDSN) signed a definitive agreement to acquire CyberOptics Corporation (NasdaqGM : CYBE) for approximately $400 million. Nordson Corporation (NasdaqGS:NDSN) signed a definitive agreement to acquire CyberOptics Corporation (NasdaqGM : CYBE) for approximately $400 million on August 7, 2022. The all-cash transaction is valued at $54 a share, or approximately $380 million net of cash acquired. Upon termination of the Merger Agreement under the limited specified circumstances, CyberOptics will be required to pay Nordson a termination fee of $12,471,727. The transaction is subject to approval by the holders of CyberOptics Corporation common stock, the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. The boards of directors of both companies have approved the transaction. The transaction is expected to close before the end of 2022. The transaction is expected to close in Nordson’s first quarter fiscal 2023. Barclays Capital Inc. acted as exclusive financial advisor as well as fairness opinion provider and Stephen Quinlivan of Stinson LLP acted as legal advisor to CyberOptics Corporation. Morgan Stanley & Co. LLC acted as exclusive financial advisor and James Dougherty and Erin de la Mare of Jones Day acted as legal advisor to Nordson Corporation. Price Target Changed • Aug 08
Price target decreased to US$54.00 Down from US$62.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of US$53.03. Stock is up 20% over the past year. The company is forecast to post earnings per share of US$2.00 for next year compared to US$1.74 last year. Reported Earnings • Jul 28
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.59 (up from US$0.43 in 2Q 2021). Revenue: US$27.6m (up 9.4% from 2Q 2021). Net income: US$4.39m (up 41% from 2Q 2021). Profit margin: 16% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 6.6%, compared to a 15% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
CyberOptics Corporation Provides Earnings Guidance for the Third Quarter Ending September 30, 2022 CyberOptics Corporation provided earnings guidance for the third quarter ending September 30, 2022. For the quarter, the company expected sales of $26.0 million to $29.0 million. Announcement • Jul 07
CyberOptics Corporation to Report Q2, 2022 Results on Jul 27, 2022 CyberOptics Corporation announced that they will report Q2, 2022 results on Jul 27, 2022 Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$31.81, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Semiconductor industry in the US. Total returns to shareholders of 165% over the past three years. Announcement • Jun 23
CyberOptics Corporation to Launch Next-Generation WaferSense® & ReticleSense® Auto Teaching Systems™ During SEMICON West CyberOptics Corporation will exhibit at SEMICON West 2022 HYBRID, scheduled to take place July 12–14, 2022 at the Moscone Center in San Francisco and online 24/7. The company will launch its next-generation WaferSense® Auto Teaching System™ (ATS2) and new ReticleSense® Auto Teaching System™ (ATSR) in Booth #1241. ATS2 and ATSR are multi camera sensors used with CyberSpectrum™ software to teach accurate wafer and reticle hand-off calibration for proper alignment and set-up of semiconductor tools. The sensors "see" inside to capture three dimensional off-set data (x, y and z) in real-time to quickly teach wafer and reticle transfer positions - all without opening the tools. Process and equipment engineers can conduct repeatable and reproducible setups and maintenance checks, speed trouble-shooting and eliminate technician-to-technician variation. CyberOptics also will demonstrate WaferSense® sensors for leveling, vibration, gapping, relative humidity, resistance and airborne particles. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$38.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Semiconductor industry in the US. Total returns to shareholders of 139% over the past three years. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: US$0.49 (up from US$0.20 in 1Q 2021). Revenue: US$24.2m (up 37% from 1Q 2021). Net income: US$3.59m (up 149% from 1Q 2021). Profit margin: 15% (up from 8.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 6.5%, compared to a 20% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to US$62.00 Up from US$54.00, the current price target is provided by 1 analyst. New target price is 37% above last closing price of US$45.36. Stock is up 35% over the past year. The company is forecast to post earnings per share of US$1.91 for next year compared to US$1.74 last year. Price Target Changed • Apr 15
Price target increased to US$62.00 Up from US$54.00, the current price target is provided by 1 analyst. New target price is 54% above last closing price of US$40.32. Stock is up 43% over the past year. The company is forecast to post earnings per share of US$1.91 for next year compared to US$1.74 last year. Announcement • Apr 03
CyberOptics Corporation Features New Dual-Mode MRS™ Sensor At Smart SMT & PCB Assembly in Korea CyberOptics® Corporation will feature the SQ3000™ Multi-Function system for AOI, SPI and CMM and SQ3000™+ powered by Multi-Reflection Suppression™ (MRS™) technology at the Smart SMT & PCB Assembly Show in booth #I132, scheduled to take place April 6-8, 2022 at the Suwon Convention Center in Suwon, South Korea. The company also will highlight the SE3000™ with the new dual-mode MRS sensor. The SE3000 SPI System incorporates the new Dual-Mode MRS sensor for superior performance and maximum flexibility for dedicated solder paste inspection applications, with one mode for high-speed, and another mode for high resolution. The new sensor is an extension of the proprietary sensor portfolio that provides performance in semiconductor and SMT markets. Customers value the high accuracy, repeatability and reproducibility of the SE3000 that is ideal for detecting insufficient or excessive paste, height, area and other SPI applications. The SQ3000+ Multi-Function system powered by MRS for inspection and metrology is an extension of the multi-award-winning SQ3000 platform deemed best-in-class, that not only conducts AOI and SPI, but uniquely delivers in-line, full coordinate measurement (CMM) data in seconds, not hours. CyberOptics’ unique MRS sensor architecture simultaneously captures and transmits multiple images in parallel while proprietary 3D fusing algorithms merge the images together, delivering metrology grade accuracy at production speed. Effective suppression of multiple reflections from shiny components and surfaces is critical for highly accurate inspection and metrology, making it an ideal technology solution for a wide range of applications with high quality requirements. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 16% share price gain to US$43.26, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Semiconductor industry in the US. Total returns to shareholders of 152% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$60.12 per share. Announcement • Mar 29
CyberOptics Corporation, Annual General Meeting, May 12, 2022 CyberOptics Corporation, Annual General Meeting, May 12, 2022, at 15:00 Central Standard Time. Agenda: To set the size of the board of directors at five directors and elect five directors to serve until the annual meeting in 2023; to approve amendments to the CyberOptics Corporation 1998 stock incentive plan, as amended; to approve, on a nonbinding advisory basis, the compensation to executive officers as described in the proxy statement; to ratify the appointment of BDO USA, LLP as independent registered public accounting firm for the year ending December 31, 2022; and to discuss other matters. Recent Insider Transactions • Mar 05
Independent Director recently sold US$172k worth of stock On the 2nd of March, Michael Selzer sold around 5k shares on-market at roughly US$38.19 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$410k more than they bought in the last 12 months. Major Estimate Revision • Feb 24
Consensus EPS estimates increase by 19% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$101.3m to US$102.6m. EPS estimate increased from US$1.63 to US$1.93 per share. Net income forecast to grow 16% next year vs 29% growth forecast for Semiconductor industry in the US. Consensus price target up from US$54.00 to US$56.00. Share price rose 2.6% to US$38.07 over the past week. Reported Earnings • Feb 19
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$1.74 (up from US$0.80 in FY 2020). Revenue: US$92.8m (up 32% from FY 2020). Net income: US$12.8m (up 122% from FY 2020). Profit margin: 14% (up from 8.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 11%, compared to a 21% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Feb 18
CyberOptics Corporation Provides Earnings Guidance for the First Quarter of 2022 Ending March 31, 2022 CyberOptics Corporation provided earnings guidance for the first quarter of 2022 ending March 31, 2022. For the quarter, the company expects sales of $22.0 to $24.0 million compared to $17.7 million in the first quarter of 2021. CyberOptics expects to report strong operating results in the first quarter of 2022, based on the continuation of favorable market conditions and shipments from its order backlog of 3D MRS based sensor and system products. Announcement • Feb 02
CyberOptics Corporation to Report Q4, 2021 Results on Feb 17, 2022 CyberOptics Corporation announced that they will report Q4, 2021 results on Feb 17, 2022 Announcement • Jan 20
CyberOptics® Corporation Unveils New Dual-Mode MRS™ Sensor for Solder Paste Inspection At IPC Apex 2022 CyberOptics® Corporation announced that it will unveil the new Dual-Mode MRS sensor for the SE3000™ SPI system in Booth #2541 at the 2022 IPC APEX EXPO, January 25-27, 2022 at the San Diego Convention Center in California. The company will also demonstrate the SQ3000™ Multi-Function system for AOI, SPI and CMM and feature the new SQ3000+ Multi-Function system for advanced applications. The new Dual-Mode MRS sensor for the SE3000™ SPI system provides maximum flexibility for dedicated solder paste inspection applications, with one mode for high speed inspection and another mode for high resolution inspection. The new sensor is an extension of the proprietary Multi-Reflection Suppression™ sensor portfolio that provides industry-leading performance in semiconductor and SMT markets. The SE3000 is ideal for measuring height, area, volume, registration and bridging, as well as detecting insufficient paste, excess height, smear, offset and more. At APEX, the company will also feature the SQ3000™+ Multi-Function system for inspection and metrology, an extension of the multi-award-winning SQ3000 platform deemed best-in-class, that not only conducts AOI and SPI, but uniquely delivers in-line, full coordinate measurement (CMM) data in seconds, not hours. The all-in-one system offers a combination of unmatched high accuracy and high speed, with an even higher resolution MRS sensor that inhibits reflection-based distortions caused by shiny components and surfaces. The SQ3000+ is specifically designed for high-end applications including advanced packaging, mini-LED, advanced SMT for medical, military, aerospace and advanced electronics, 008004/0201 SPI, socket metrology and other challenging CMM applications. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$39.95, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Semiconductor industry in the US. Total returns to shareholders of 116% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$61.65 per share. Price Target Changed • Dec 11
Price target increased to US$54.00 Up from US$50.00, the current price target is an average from 3 analysts. New target price is 19% above last closing price of US$45.20. Stock is up 66% over the past year. The company is forecast to post earnings per share of US$1.49 for next year compared to US$0.80 last year. Recent Insider Transactions • Nov 25
VP of Finance recently sold US$185k worth of stock On the 19th of November, Jeffrey Bertelsen sold around 4k shares on-market at roughly US$46.35 per share. This was the largest sale by an insider in the last 3 months. Jeffrey has been a seller over the last 12 months, reducing personal holdings by US$238k. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$0.66 (vs US$0.25 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$27.8m (up 33% from 3Q 2020). Net income: US$4.80m (up 167% from 3Q 2020). Profit margin: 17% (up from 8.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Sep 19
CyberOptics Highlights the New SQ3000™+ Inspection and Metrology System at NEPCON Asia CyberOptics® Corporation will showcase its SQ3000™ Multi-Function system for AOI, SPI and CMM, and feature its new SQ3000™+ system for advanced applications at NEPCON Asia from Oct. 20-21, 2021 at the Shenzhen Convention Center, China in Booth #1J45. The SQ3000+ is ideal for high-end applications including advanced packaging, mini-LED and advanced SMT for medical, military, aerospace and advanced electronics, 008004/0201 solder paste inspection (SPI), socket metrology and other advanced coordinate measurement (CMM) applications. The SQ3000+ Multi-Function system for metrology and inspection is an extension of the multi-award-winning SQ3000 system platform deemed best-in-class. The new SQ3000+ offers a combination of unmatched high accuracy and high speed with an even higher resolution sensor. The new, ultra-high resolution 5-micron Multi-Reflection Suppression™ (MRS™) sensor is specifically designed for advanced applications with stringent requirements. The proprietary MRS sensor technology incorporates highly sophisticated algorithms that meticulously identify and reject reflection-based distortions caused by shiny components and surfaces to deliver highly accurate measurements at production speeds. CyberOptics’ SQ3000 and SQ3000+ Multi-Function systems can identify critical defects and measure critical parameters, in order to fix what can be found and control what can be measured. In addition to AOI and SPI applications, highly accurate in-line coordinate measurements can be attained faster than a traditional Coordinate Measurement Machine (CMM) – in seconds, not hours. Both systems include CyberCMM™, an extensive software suite for metrology grade measurements on all critical points, and the latest 3D AOI software that provides ultra-fast programming capabilities, including AutoTeach, AutoDefine and AutoTune that significantly speed setup, simplify the process, reduce training efforts and minimize operator interaction. Recent Insider Transactions Derivative • Sep 01
President exercised options and sold US$750k worth of stock On the 27th of August, Subodh Kulkarni exercised 38.75k options at around US$9.62, then sold 23k of the shares acquired at an average of US$42.62 per share and kept the remainder. For the year to December 2020, Subodh's total compensation was 32% salary and 68% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2020, Subodh's direct individual holding has increased from 118.07k shares to 127.38k. Company insiders have collectively sold US$973k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 19
VP of Finance recently sold US$52k worth of stock On the 16th of August, Jeffrey Bertelsen sold around 1k shares on-market at roughly US$41.56 per share. This was the largest sale by an insider in the last 3 months. This was Jeffrey's only on-market trade for the last 12 months. Major Estimate Revision • Aug 04
Consensus revenue estimates increase to US$90.5m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$80.4m to US$90.5m. EPS estimate increased from US$0.93 to US$1.24 per share. Net income forecast to grow 30% next year vs 42% growth forecast for Semiconductor industry in the US. Consensus price target up from US$46.33 to US$50.00. Share price rose 19% to US$46.56 over the past week. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 19% share price gain to US$46.56, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 23x in the Semiconductor industry in the US. Total returns to shareholders of 149% over the past three years. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.43 (vs US$0.23 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$25.2m (up 58% from 2Q 2020). Net income: US$3.11m (up 90% from 2Q 2020). Profit margin: 12% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 18% share price gain to US$40.51, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 25x in the Semiconductor industry in the US. Total returns to shareholders of 133% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$17.70 per share. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 16% share price gain to US$34.70, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 25x in the Semiconductor industry in the US. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$17.74 per share. Major Estimate Revision • May 04
Consensus EPS estimates increase to US$0.93 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from US$76.5m to US$80.4m. EPS estimate increased from US$0.80 to US$0.93 per share. Net income forecast to grow 19% next year vs 43% growth forecast for Semiconductor industry in the US. Consensus price target up from US$42.50 to US$46.33. Share price rose 9.8% to US$32.60 over the past week. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS US$0.20 (vs US$0.12 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$17.7m (up 7.9% from 1Q 2020). Net income: US$1.44m (up 71% from 1Q 2020). Profit margin: 8.1% (up from 5.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 29
Price target increased to US$46.33 Up from US$42.50, the current price target is an average from 3 analysts. New target price is 38% above last closing price of US$33.51. Stock is up 23% over the past year. Announcement • Apr 29
CyberOptics Corporation Provides Revenue Guidance for the Second Quarter of 2021 CyberOptics Corporation provided revenue guidance for the second quarter of 2021. For the period, the company is forecasting sales of $21.0 million to $23.0 million. Reported Earnings • Mar 14
Full year 2020 earnings released: EPS US$0.80 (vs US$0.11 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$70.1m (up 18% from FY 2019). Net income: US$5.74m (up US$4.97m from FY 2019). Profit margin: 8.2% (up from 1.3% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 9.1%, compared to a 19% growth forecast for the Semiconductor industry in the US. Announcement • Mar 12
CyberOptics Corporation Announces to Showcase Metrology and Inspection Solutions at SEMICON China CyberOptics Corporation announced that it will feature the WX3000™ metrology and inspection system with Multi-Reflection Suppression™ (MRS™) sensor technology at SEMICON China, scheduled to take place March 17-19, 2021 at the Shanghai New International Expo Centre, hall N1, booth 1387 and 1325. The company also will demonstrate high-precision WaferSense® sensors for semiconductor tool setup and diagnostics. The NanoResolution MRS sensor integrated into the company’s WX3000 system provides sub-micrometer accuracy on features as small as 25µm. While retaining its ability to reject spurious multiple reflections, it adds the ability to capture and analyze specular reflections from shiny surfaces of solder balls, bumps and pillars, allowing highly accurate inspection and 3D metrology of these critical packaging features. Complete 100% 3D/2D inspection and bump metrology can be accomplished 2-3X faster than alternative technologies delivering production-worthy throughput greater than 25 wafers (300mm) per hour. The company also will digitally demonstrate high-precision sensors that process and equipment engineers use in the front-end of the fab to speed equipment qualification, shorten equipment maintenance cycles, lower equipment expenses and optimize preventative maintenance plans. The WaferSense® Auto Resistance Sensor™ (ARS) enables real-time resistance measurements of plating cell contacts in semiconductor Electrochemical Deposition (ECD) applications, and the In-Line Particle Sensor™ (IPS) detects, monitors and enables troubleshooting of particles down to 0.1 µm in gas and vacuum lines in any areas of the fab 24/7. Announcement • Mar 10
CyberOptics Corporation Receives $1.4 Million Order for 3D SQ3000 Multi-Function Systems CyberOptics Corporation announced that it recently received an order valued at $1.4 million for its 3D SQ3000™ Multi-Function systems for AOI, SPI and CMM. These systems are expected to be recognized as revenue periodically through-out 2021, mainly during the second through fourth quarters. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS US$0.80 (vs US$0.11 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$70.1m (up 18% from FY 2019). Net income: US$5.74m (up US$4.97m from FY 2019). Profit margin: 8.2% (up from 1.3% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 9.6%, compared to a 18% growth forecast for the Semiconductor industry in the US. Is New 90 Day High Low • Feb 17
New 90-day high: US$28.67 The company is up 18% from its price of US$24.22 on 18 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.84 per share. Announcement • Feb 10
CyberOptics Corporation to Report Q4, 2020 Results on Feb 18, 2021 CyberOptics Corporation announced that they will report Q4, 2020 results on Feb 18, 2021 Announcement • Jan 31
CyberOptics Corporation to Showcase High-Precision Inspection and Metrology Solutions At Semi Technology Unites Global Summit CyberOptics® Corporation will feature the WX3000™ metrology and inspection system with Multi-Reflection Suppression™ sensor technology, and high-precision sensors for semiconductor tool set-up and diagnostics at the Virtual SEMI Technology Unites Global Summit from February 15, 2021 to February 19, 2021. Tim Skunes, VP of R&D at CyberOptics, will share a related technical presentation ‘Fast, 100% 3D Wafer Bump Metrology and Inspection to Improve Yields and 3D System Integration’ on February 16, 2021. Advanced Packaging and wafer level packaging continue to be among the most dynamic and rapidly evolving areas of semiconductor development and manufacturing. As the processes and features they create have become smaller and more complex, manufacturers face an increasing need for high-precision inspection and measurement to detect defects and improve process control. This need is amplified by the fact that these processes use expensive known good die, making the cost of failure extremely high. The NanoResolution MRS sensor integrated into CyberOptics’ WX3000™ system provides sub-micrometer accuracy on features as small as 25µm. While retaining its ability to reject spurious multiple reflections, it adds the ability to capture and analyze specular reflections from shiny surfaces of solder balls, bumps and pillars, allowing highly accurate inspection and 3D metrology of these critical packaging features. Complete 100% 3D/2D inspection and bump metrology can be accomplished vs. time-consuming alternative methods that require separate scans for 3D and 2D, or a sampling only approach. With data processing speeds in excess of 75 million 3D points per second, it delivers production-worthy throughput greater than 25 wafers (300mm) per hour, at speeds 2-3X faster. The company will also digitally demonstrate high-precision sensors that process and equipment engineers use in the front-end of the fab to speed equipment qualification, shorten equipment maintenance cycles, lower equipment expenses and optimize preventative maintenance plans. The WaferSense® Auto Resistance Sensor™ enables real-time resistance measurements of plating cell contacts in semiconductor Electrochemical Deposition applications, and the In-Line Particle Sensor™ detects, monitors and enables troubleshooting of particles down to 0.1 µm in gas and vacuum lines in any areas of the fab 24/7. The Technology Unites Global Summit brings together the global microelectronics supply chain, manufacturers and end users for a digital experience featuring industry thought leaders and high-value technical content from around the world. CyberOptics is a platinum sponsor. Announcement • Jan 08
CyberOptics Corporation Receives Orders Valued at $4.2 Million for 3D MX3000™ Systems CyberOptics Corporation announced that it recently received orders valued at $4.2 million for its 3D MX3000™ memory module inspection systems for multiple subcontractors of a large memory manufacturer. These systems are expected to be recognized as revenue evenly in the second and third quarters of 2021. Is New 90 Day High Low • Dec 31
New 90-day low: US$22.23 The company is down 34% from its price of US$33.75 on 01 October 2020. The American market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.79 per share. Recent Insider Transactions Derivative • Nov 19
VP of Finance exercised options and sold US$288k worth of stock On the 13th of November, Jeffrey Bertelsen exercised 26.75k options at around US$5.39, then sold 16.26k of the shares acquired at an average of US$23.11 per share and kept the remainder. Since December 2019, Jeffrey's direct individual holding has increased from 87.93k shares to 91.61k. Company insiders have collectively sold US$637k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.25 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$20.8m (up 68% from 3Q 2019). Net income: US$1.80m (up US$2.15m from 3Q 2019). Profit margin: 8.6% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 6.9%, compared to a 16% growth forecast for the Semiconductor industry in the US. Valuation Update With 7 Day Price Move • Oct 29
Market pulls back on stock over the past week After last week's 36% share price decline to US$23.25, the stock is trading at a trailing P/E ratio of 37.6x, down from the previous P/E ratio of 58.9x. This compares to an average P/E of 37x in the Semiconductor industry in the US. Total returns to shareholders over the past three years are 57%. Major Estimate Revision • Oct 29
Analysts lower EPS estimates to US$0.65 The 2020 consensus revenue estimate was lowered from US$70.1m to US$69.4m. Earning per share (EPS) estimate was also lowered from US$0.75 to US$0.65 for the same period. Net income is expected to grow by 28% next year compared to 26% growth forecast for the Semiconductor industry in the US. The consensus price target was lowered from US$46.00 to US$42.00. Share price is down by 36% to US$23.25 over the past week. Price Target Changed • Oct 27
Price target lowered to US$42.00 Down from US$46.00, the current price target is an average from 3 analysts. The new target price is 59% above the current share price of US$26.37. As of last close, the stock is up 54% over the past year. Is New 90 Day High Low • Oct 24
New 90-day low: US$26.25 The company is down 31% from its price of US$38.21 on 24 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$5.96 per share. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of US$4.44m, up 149% from the prior year. Total revenue was US$70.1m over the last 12 months, up 16% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
Third-quarter earnings released: Revenue beats expectations, earnings disappoint Third-quarter revenue exceeded analyst estimates by 3.6% at US$20.8m. Earnings per share (EPS) missed analyst estimates by 12% at US$0.24. Revenue is forecast to grow 6.9% over the next year, compared to a 15% growth forecast for the Semiconductor industry in the US. Announcement • Oct 07
CyberOptics Corporation to Report Q3, 2020 Results on Oct 22, 2020 CyberOptics Corporation announced that they will report Q3, 2020 results on Oct 22, 2020 Announcement • Jul 08
CyberOptics Corporation to Report Q2, 2020 Results on Jul 23, 2020 CyberOptics Corporation announced that they will report Q2, 2020 results at 8:00 PM, GMT Standard Time on Jul 23, 2020