Brokerages Set Electro Scientific Industries, Inc. (NASDAQ:ESIO) PT at $9.00

Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.00.

ESIO has been the subject of a number of research reports. BidaskClub raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Wednesday. Lake Street Capital dropped their target price on shares of Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday. Finally, Needham & Company LLC raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Thursday, August 3rd.

A number of hedge funds have recently bought and sold shares of ESIO. Thrivent Financial for Lutherans increased its stake in Electro Scientific Industries by 11.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,930 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 1,820 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Electro Scientific Industries by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 200 shares during the period. Arizona State Retirement System boosted its position in shares of Electro Scientific Industries by 2.4% in the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 400 shares during the period. Trexquant Investment LP bought a new position in shares of Electro Scientific Industries during the second quarter valued at $124,000. Finally, Thrivent Financial For Lutherans boosted its position in shares of Electro Scientific Industries by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 330 shares during the period. 71.93% of the stock is owned by institutional investors and hedge funds.

Shares of Electro Scientific Industries (ESIO) traded up 3.82% during mid-day trading on Tuesday, reaching $10.86. 339,712 shares of the company were exchanged. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $10.92. The company’s market capitalization is $365.85 million. The firm’s 50-day moving average is $8.58 and its 200-day moving average is $7.46.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.20. The business 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%. Electro Scientific Industries’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities analysts forecast that Electro Scientific Industries will post $0.54 earnings per share for the current fiscal year.

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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.