Electro Scientific Industries, Inc. (ESIO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) have received a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $25.25.

ESIO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, November 8th. Needham & Company LLC upped their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Lake Street Capital restated a “buy” rating and issued a $14.50 target price (up previously from $10.50) on shares of Electro Scientific Industries in a research note on Monday, September 18th. DA Davidson restated a “buy” rating and issued a $25.00 target price on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. Finally, BidaskClub lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd.

In related news, CFO Paul R. Oldham sold 120,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the sale, the chief financial officer now owns 237,665 shares in the company, valued at $5,582,750.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul R. Oldham sold 60,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $24.08, for a total transaction of $1,444,800.00. Following the sale, the chief financial officer now owns 287,665 shares in the company, valued at approximately $6,926,973.20. The disclosure for this sale can be found here. 6.22% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESIO. Algert Global LLC acquired a new stake in Electro Scientific Industries during the third quarter worth about $5,205,000. EAM Investors LLC grew its position in Electro Scientific Industries by 276.7% in the 3rd quarter. EAM Investors LLC now owns 271,777 shares of the semiconductor company’s stock worth $3,783,000 after purchasing an additional 199,637 shares during the last quarter. OxFORD Asset Management LLP bought a new position in Electro Scientific Industries in the 3rd quarter worth about $2,609,000. Vanguard Group Inc. grew its position in Electro Scientific Industries by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock worth $11,260,000 after purchasing an additional 172,926 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in Electro Scientific Industries in the 3rd quarter worth about $1,758,000. Hedge funds and other institutional investors own 69.07% of the company’s stock.

Shares of Electro Scientific Industries (NASDAQ ESIO) traded up $0.87 during trading on Monday, hitting $26.99. 718,900 shares of the stock were exchanged, compared to its average volume of 345,039. The company has a current ratio of 2.81, a quick ratio of 1.96 and a debt-to-equity ratio of 0.08. Electro Scientific Industries has a 1-year low of $5.03 and a 1-year high of $27.30.

Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. The business had revenue of $70.97 million for the quarter, compared to analyst estimates of $65.53 million. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The company’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) EPS. sell-side analysts forecast that Electro Scientific Industries will post 1.14 earnings per share for the current 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.

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