Acadian Asset Management LLC bought a new position in Electro Scientific Industries, Inc. (NASDAQ:ESIO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 45,848 shares of the semiconductor company’s stock, valued at approximately $379,000.
A number of other institutional investors have also modified their holdings of ESIO. 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 worth $111,000 after buying an additional 200 shares during the last quarter. 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 worth $119,000 after buying an additional 400 shares during the last quarter. 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 worth $127,000 after buying an additional 330 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Electro Scientific Industries by 2.5% in the first quarter. Baird Financial Group Inc. now owns 23,854 shares of the semiconductor company’s stock worth $166,000 after buying an additional 580 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Electro Scientific Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 25,330 shares of the semiconductor company’s stock worth $177,000 after buying an additional 3,823 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.
Electro Scientific Industries, Inc. (NASDAQ:ESIO) traded up 0.229% during trading on Tuesday, hitting $10.955. 168,968 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $8.99 and a 200 day moving average price of $7.67. Electro Scientific Industries, Inc. has a 52-week low of $4.50 and a 52-week high of $11.11. The company’s market cap is $363.00 million.
Electro Scientific Industries (NASDAQ:ESIO) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The business had revenue of $72.70 million for the quarter, compared to the consensus estimate of $61.10 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, equities research analysts predict that Electro Scientific Industries, Inc. will post $0.72 earnings per share for the current year.
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A number of equities analysts recently commented on the stock. Needham & Company LLC upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Lake Street Capital reiterated a “buy” rating and issued a $9.00 target price (up previously 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 Thursday, August 3rd. BidaskClub upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.00.
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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