Electro Scientific Industries, Inc. (NASDAQ:ESIO) shares were up 6.8% during trading on Thursday . The company traded as high as $21.39 and last traded at $21.00. Approximately 1,193,771 shares were traded during trading, a decline of 15% from the average daily volume of 1,400,372 shares. The stock had previously closed at $19.67.
A number of research analysts have commented on ESIO shares. BidaskClub upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of Electro Scientific Industries in a research note on Thursday, January 18th. Zacks Investment Research cut Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Monday, December 25th. Needham & Company LLC increased their price objective on Electro Scientific Industries from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Lake Street Capital increased their price objective on Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.00.
The company has a market cap of $653.93, a price-to-earnings ratio of 35.00, a P/E/G ratio of 0.82 and a beta of 0.99. The company has a current ratio of 2.86, a quick ratio of 2.04 and a debt-to-equity ratio of 0.07.
In related news, VP John Edward Williams sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.05, for a total value of $90,250.00. Following the transaction, the vice president now owns 59,800 shares of the company’s stock, valued at $1,079,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.22% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC purchased a new position in Electro Scientific Industries in the fourth quarter valued at $118,000. LS Investment Advisors LLC increased its holdings in Electro Scientific Industries by 723.4% in the fourth quarter. LS Investment Advisors LLC now owns 7,361 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 6,467 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Electro Scientific Industries in the third quarter valued at $109,000. Caxton Associates LP purchased a new position in Electro Scientific Industries in the fourth quarter valued at $211,000. Finally, Teacher Retirement System of Texas purchased a new position in Electro Scientific Industries in the fourth quarter valued at $221,000. 83.92% of the stock is currently owned by hedge funds and other institutional investors.
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Electro Scientific Industries Company Profile
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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