Electro Scientific Industries, Inc. (ESIO) Receives Average Rating of “Buy” from Analysts

Electro Scientific Industries, Inc. (NASDAQ:ESIO) has earned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.00.

A number of equities analysts have recently weighed in on ESIO shares. Lake Street Capital cut their price target on Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, August 3rd. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, August 8th. Finally, BidaskClub cut Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd.

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Several large investors have recently made changes to their positions in ESIO. Divisar Capital Management LLC grew its position in shares of Electro Scientific Industries by 24.1% in the first quarter. Divisar Capital Management LLC now owns 1,437,488 shares of the semiconductor company’s stock valued at $10,019,000 after purchasing an additional 278,813 shares during the period. Vanguard Group Inc. grew its position in shares of Electro Scientific Industries by 12.0% in the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock valued at $11,260,000 after purchasing an additional 172,926 shares during the period. Wells Fargo & Company MN grew its position in shares of Electro Scientific Industries by 88.1% in the second quarter. Wells Fargo & Company MN now owns 249,363 shares of the semiconductor company’s stock valued at $2,056,000 after purchasing an additional 116,824 shares during the period. Kennedy Capital Management Inc. grew its position in shares of Electro Scientific Industries by 26.2% in the first quarter. Kennedy Capital Management Inc. now owns 457,623 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 95,041 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Electro Scientific Industries by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock valued at $17,518,000 after purchasing an additional 91,565 shares during the period. 73.16% of the stock is owned by institutional investors and hedge funds.

Shares of Electro Scientific Industries (NASDAQ ESIO) traded up 2.18% during mid-day trading on Wednesday, hitting $12.64. The company had a trading volume of 116,808 shares. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $12.78. The firm has a 50-day moving average price of $10.86 and a 200 day moving average price of $8.40. The firm’s market capitalization is $418.84 million.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. The company had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, equities research analysts forecast that Electro Scientific Industries will post $0.72 earnings per share for the current fiscal year.

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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