Electro Scientific Industries (ESIO) Downgraded by Stifel Nicolaus

Electro Scientific Industries (NASDAQ:ESIO) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other analysts have also commented on ESIO. BidaskClub raised Electro Scientific Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday. Lake Street Capital lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.40.

NASDAQ:ESIO traded up $13.65 during trading hours on Tuesday, reaching $28.58. 949,313 shares of the company traded hands, compared to its average volume of 600,159. The stock has a market capitalization of $503.53 million, a price-to-earnings ratio of 10.63, a PEG ratio of 0.60 and a beta of 1.13. Electro Scientific Industries has a 1 year low of $13.92 and a 1 year high of $27.72. The company has a current ratio of 4.22, a quick ratio of 2.94 and a debt-to-equity ratio of 0.04.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $85.92 million during the quarter, compared to analysts’ expectations of $84.35 million. Electro Scientific Industries had a return on equity of 47.09% and a net margin of 35.60%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, equities research analysts predict that Electro Scientific Industries will post 2.06 EPS for the current year.

In related news, Director Raymond A. Link sold 6,000 shares of Electro Scientific Industries stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $23.01, for a total value of $138,060.00. Following the completion of the sale, the director now owns 73,643 shares of the company’s stock, valued at $1,694,525.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.53% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Electro Scientific Industries by 8.5% in the second quarter. BlackRock Inc. now owns 4,765,147 shares of the semiconductor company’s stock worth $75,146,000 after acquiring an additional 372,084 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Electro Scientific Industries by 3.4% in the second quarter. Renaissance Technologies LLC now owns 1,808,720 shares of the semiconductor company’s stock worth $28,524,000 after acquiring an additional 60,020 shares during the period. Royce & Associates LP grew its holdings in Electro Scientific Industries by 124.1% during the second quarter. Royce & Associates LP now owns 1,734,985 shares of the semiconductor company’s stock valued at $27,361,000 after purchasing an additional 960,784 shares during the period. Divisar Capital Management LLC grew its holdings in Electro Scientific Industries by 13.9% during the second quarter. Divisar Capital Management LLC now owns 780,167 shares of the semiconductor company’s stock valued at $12,303,000 after purchasing an additional 95,000 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Electro Scientific Industries by 53.3% during the second quarter. Wells Fargo & Company MN now owns 469,292 shares of the semiconductor company’s stock valued at $7,399,000 after purchasing an additional 163,098 shares during the period. 88.83% of the stock is owned by institutional investors.

Electro Scientific Industries Company Profile

Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. The company provides printed circuit board laser drilling products, including laser via drilling systems for electrical interconnect applications that require dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards, and interconnect packages; micro via drilling technology that addresses the changing applications in interconnect packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems that employ technology in lasers, optics, and motion control.

Read More: How accurate is the Rule of 72?

The Fly

Receive News & Ratings for Electro Scientific Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electro Scientific Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply