Electro Scientific Industries, Inc. (NASDAQ:ESIO) announced its earnings results on Monday. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12, Bloomberg Earnings reports. The company had revenue of $70.97 million for the quarter, compared to analysts’ expectations of $65.53 million. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. Electro Scientific Industries’s quarterly revenue was up 139.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.24) earnings per share.
ESIO has been the topic of several analyst reports. Zacks Investment Research cut Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Lake Street Capital reaffirmed a “buy” rating and set a $14.50 target price (up previously from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. BidaskClub raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $12.83.
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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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