Electro Scientific Industries, Inc. (ESIO) Reaches New 1-Year High at $16.37

Electro Scientific Industries, Inc. (NASDAQ:ESIO) hit a new 52-week high during trading on Monday . The stock traded as high as $16.37 and last traded at $16.36, with a volume of 953,054 shares. The stock had previously closed at $15.63.

Several brokerages recently commented on ESIO. BidaskClub lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of 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. Needham & Company LLC raised shares of 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. Finally, Lake Street Capital cut their price target 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $12.83.

The stock has a 50 day moving average of $13.76 and a 200 day moving average of $9.87. The firm’s market cap is $535.15 million.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same quarter last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. Equities analysts forecast that Electro Scientific Industries, Inc. will post $0.73 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased 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 in the last quarter. Trexquant Investment LP purchased a new position in shares of Electro Scientific Industries in the second quarter valued at $124,000. Virtu KCG Holdings LLC purchased a new position in shares of Electro Scientific Industries in the second quarter valued at $138,000. Arizona State Retirement System increased 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 in the last quarter. Finally, Thrivent Financial For Lutherans increased 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 in the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.

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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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