Electro Scientific Industries (ESIO) Downgraded by Lake Street Capital to Hold

Lake Street Capital downgraded shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a report published on Tuesday, The Fly reports.

Several other research firms also recently weighed in on ESIO. BidaskClub upgraded Electro Scientific Industries from a sell rating to a hold rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded Electro Scientific Industries from a hold rating to a strong sell rating in a research report on Wednesday, August 8th. Finally, ValuEngine upgraded Electro Scientific Industries from a hold rating to a buy rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $28.60.

Shares of ESIO opened at $28.07 on Tuesday. The firm has a market capitalization of $503.53 million, a P/E ratio of 10.47, a P/E/G ratio of 0.60 and a beta of 1.12. Electro Scientific Industries has a 52-week low of $13.92 and a 52-week high of $28.73. The company has a quick ratio of 2.94, a current ratio of 4.22 and a debt-to-equity ratio of 0.04.

Electro Scientific Industries (NASDAQ:ESIO) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Electro Scientific Industries had a return on equity of 47.09% and a net margin of 35.60%. The company had revenue of $85.92 million during the quarter, compared to the consensus estimate of $84.35 million. During the same period last year, the company earned $0.39 earnings per share. Electro Scientific Industries’s revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts anticipate that Electro Scientific Industries will post 2.06 earnings per share for the current fiscal year.

In other 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 transaction of $138,060.00. Following the completion of the sale, the director now directly owns 73,643 shares in the company, valued at $1,694,525.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.53% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Electro Scientific Industries by 14.2% during the second quarter. Swiss National Bank now owns 58,000 shares of the semiconductor company’s stock worth $915,000 after purchasing an additional 7,200 shares during the last quarter. Fortis Advisors LLC bought a new stake in shares of Electro Scientific Industries in the second quarter valued at about $123,000. DDD Partners LLC raised its holdings in shares of Electro Scientific Industries by 1.5% in the second quarter. DDD Partners LLC now owns 332,852 shares of the semiconductor company’s stock valued at $5,249,000 after acquiring an additional 4,935 shares in the last quarter. Bridge City Capital LLC bought a new stake in shares of Electro Scientific Industries in the second quarter valued at about $1,023,000. Finally, Eqis Capital Management Inc. raised its holdings in shares of Electro Scientific Industries by 164.5% in the second quarter. Eqis Capital Management Inc. now owns 27,902 shares of the semiconductor company’s stock valued at $440,000 after acquiring an additional 17,353 shares in the last quarter. Institutional investors and hedge funds own 88.83% of the company’s stock.

About Electro Scientific Industries

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.

Featured Story: How Do You Calculate Return on Investment (ROI)?

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