Electro Scientific Industries, Inc. (NASDAQ:ESIO) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, July 25th.
Several other equities analysts have also recently commented on ESIO. Lake Street Capital restated a “buy” rating and issued a $9.00 target price (up from $7.50) on shares of Electro Scientific Industries in a research report on Wednesday, May 10th. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Electro Scientific Industries presently has an average rating of “Hold” and a consensus price target of $10.50.
Shares of Electro Scientific Industries (NASDAQ:ESIO) traded down 1.69% during mid-day trading on Tuesday, reaching $10.46. 759,503 shares of the company’s stock traded hands. The stock’s market cap is $352.38 million. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $10.97. The firm has a 50 day moving average price of $8.58 and a 200-day moving average price of $7.46.
Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.18 by $0.20. The company had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. On average, analysts predict that Electro Scientific Industries will post $0.54 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in ESIO. Russell Investments Group Ltd. bought a new stake in shares of Electro Scientific Industries during the fourth quarter valued at about $541,000. Comerica Bank raised its stake in shares of Electro Scientific Industries by 8.4% in the fourth quarter. Comerica Bank now owns 34,153 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 2,660 shares during the period. State Street Corp raised its stake in shares of Electro Scientific Industries by 10.7% in the fourth quarter. State Street Corp now owns 489,408 shares of the semiconductor company’s stock valued at $2,894,000 after buying an additional 47,450 shares during the period. Renaissance Technologies LLC raised its stake in shares of Electro Scientific Industries by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,326,637 shares of the semiconductor company’s stock valued at $7,854,000 after buying an additional 87,237 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Electro Scientific Industries by 19.4% in the fourth quarter. Two Sigma Investments LP now owns 122,334 shares of the semiconductor company’s stock valued at $724,000 after buying an additional 19,839 shares during the period. 71.93% of the stock is currently owned by institutional investors.
About Electro Scientific Industries
Electro Scientific Industries, Inc and its subsidiaries supply laser-based manufacturing solutions for industries reliant on microtechnologies. The Company operates through two segments: Component Processing and Micromachining. The Component Processing segment includes interconnect products, semiconductor products and component products.
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