Shares of CyberOptics Co. (NASDAQ:CYBE) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.67.
A number of equities analysts have weighed in on CYBE shares. Lake Street Capital decreased their target price on CyberOptics from $27.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, October 3rd. Zacks Investment Research raised CyberOptics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Craig Hallum reissued a “buy” rating and issued a $20.00 target price (down previously 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 reissued a “buy” rating and issued a $21.00 target price (down previously from $35.00) on shares of CyberOptics in a research report on Tuesday, October 3rd.
A number of large investors have recently modified their holdings of the business. Heartland Advisors Inc. increased its position 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 purchasing an additional 150,000 shares during the last quarter. State Street Corp purchased a new stake in shares of CyberOptics during the 2nd quarter valued at about $1,645,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of CyberOptics during the 2nd quarter valued at about $1,536,000. Northern Trust Corp increased its position 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 purchasing an additional 63,101 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of CyberOptics by 59.7% during the 3rd 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 purchasing an additional 60,350 shares during the last quarter. 62.33% of the stock is owned by institutional investors and hedge funds.
CyberOptics (NASDAQ:CYBE) last issued its earnings results on Tuesday, October 24th. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. CyberOptics had a return on equity of 3.21% and a net margin of 12.86%. The business had revenue of $11.83 million during the quarter. analysts anticipate that CyberOptics will post 0.04 earnings per share for the current year.
CyberOptics declared that its Board of Directors has authorized a share buyback program 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 programs are generally an indication that the company’s board believes its shares are undervalued.
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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