Electro Scientific Industries, Inc. (ESIO) Trading Up NaN After Strong Earnings

Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) were up NaN during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $21.98 and last traded at $0.00. Approximately 5,253,514 shares traded hands during trading, an increase of Infinity from the average daily volume of 0 shares. 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. 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 $70.97 million for the quarter, compared to analyst estimates of $65.53 million. During the same period in the prior year, the company posted ($0.24) EPS. The firm’s quarterly revenue was up 139.3% compared to the same quarter last year.

Several research analysts recently issued reports on ESIO shares. Zacks Investment Research lowered 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 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. Needham & Company LLC upped their target price on Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday. Finally, ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Electro Scientific Industries presently has an average rating of “Buy” and a consensus target price of $21.50.

A number of institutional investors have recently bought and sold shares of ESIO. Wells Fargo & Company MN grew its stake in Electro Scientific Industries by 97.9% during the 1st quarter. Wells Fargo & Company MN now owns 132,539 shares of the semiconductor company’s stock valued at $924,000 after purchasing an additional 65,554 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Electro Scientific Industries by 1.7% during the 1st quarter. Ameriprise Financial Inc. now owns 513,343 shares of the semiconductor company’s stock valued at $3,578,000 after purchasing an additional 8,690 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in Electro Scientific Industries by 3.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 88,951 shares of the semiconductor company’s stock valued at $620,000 after purchasing an additional 2,887 shares during the last quarter. Prudential Financial Inc. grew its stake in Electro Scientific Industries by 7.2% during the 1st quarter. Prudential Financial Inc. now owns 76,832 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 5,130 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Electro Scientific Industries during the 1st quarter valued at about $197,000. Institutional investors and hedge funds own 73.09% of the company’s stock.

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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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