CyberOptics Corporation (NASDAQ:CYBE) has been given a consensus rating of “Hold” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.67.

CYBE has been the subject of several analyst reports. Craig Hallum set a $25.00 price target on CyberOptics and gave the company a “buy” rating in a report on Wednesday, August 23rd. Lake Street Capital cut their price target on CyberOptics from $27.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, October 3rd. Dougherty & Co reiterated a “buy” rating and issued a $21.00 price target (down from $35.00) on shares of CyberOptics in a report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded CyberOptics from a “strong sell” rating to a “hold” rating in a report on Tuesday.

Several hedge funds and other institutional investors have recently made changes to their positions in CYBE. Heartland Advisors Inc. grew its stake in shares of CyberOptics by 150.0% during the 3rd 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. Royce & Associates LP grew its stake in shares of CyberOptics by 42.4% during the 2nd quarter. Royce & Associates LP now owns 386,600 shares of the scientific and technical instruments company’s stock valued at $7,983,000 after buying an additional 115,100 shares during the period. State Street Corp purchased a new stake in shares of CyberOptics during the 2nd quarter valued at $1,645,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of CyberOptics during the 2nd quarter valued at $1,536,000. Finally, Northern Trust Corp grew its stake in shares of CyberOptics by 269.0% during the 2nd quarter. Northern Trust Corp now owns 86,560 shares of the scientific and technical instruments company’s stock valued at $1,788,000 after buying an additional 63,101 shares during the period. 62.12% of the stock is owned by institutional investors.

Shares of CyberOptics (CYBE) traded down $0.15 during trading on Tuesday, hitting $15.35. The company had a trading volume of 90,625 shares, compared to its average volume of 146,102. CyberOptics has a 1 year low of $11.35 and a 1 year high of $41.18. The firm has a market cap of $108.05, a P/E ratio of 71.59, a P/E/G ratio of 18.00 and a beta of -0.31.

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

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

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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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