Electro Scientific Industries, Inc. (ESIO) Price Target Raised to $22.00 at Lake Street Capital

Electro Scientific Industries, Inc. (NASDAQ:ESIO) had its price target hoisted by Lake Street Capital from $14.50 to $22.00 in a research note issued to investors on Thursday. Lake Street Capital currently has a buy rating on the semiconductor company’s stock.

ESIO has been the subject of several other reports. 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 research note on Thursday, August 3rd. DA Davidson reaffirmed a buy rating and issued a $25.00 price target on shares of Electro Scientific Industries in a research note on Thursday. ValuEngine raised shares of Electro Scientific Industries from a sell rating to a hold rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Electro Scientific Industries from a hold rating to a buy rating in a research note on Tuesday, July 25th. Finally, 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 research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $21.50.

Electro Scientific Industries (NASDAQ:ESIO) traded up $0.97 during mid-day trading on Thursday, hitting $22.03. 2,970,000 shares of the company traded hands, compared to its average volume of 689,611. Electro Scientific Industries has a 52 week low of $4.60 and a 52 week high of $22.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.00 and a current ratio of 2.81.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.12. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The firm had revenue of $70.97 million during the quarter, compared to the consensus estimate of $65.53 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was up 139.3% compared to the same quarter last year. research analysts expect that Electro Scientific Industries will post 0.28 earnings per share for the current year.

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Several large investors have recently bought and sold shares of ESIO. Louisiana State Employees Retirement System increased its position in shares of Electro Scientific Industries by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 200 shares in the last quarter. Arizona State Retirement System increased its position in shares of Electro Scientific Industries by 2.4% during the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 400 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Electro Scientific Industries during the second quarter worth about $124,000. Thrivent Financial For Lutherans increased its position in shares of Electro Scientific Industries by 1.8% during the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 330 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Electro Scientific Industries during the second quarter worth about $138,000. 73.09% of the stock is owned by institutional investors.

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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