Electro Scientific Industries, Inc. (ESIO) Shares Gap Up on Analyst Upgrade

Electro Scientific Industries, Inc. (NASDAQ:ESIO)’s share price gapped up prior to trading on Friday after Needham & raised their price target on the stock from $12.00 to $27.00. The stock had previously closed at $11.59, but opened at $16.31. Needham & currently has a buy rating on the stock. Electro Scientific Industries shares last traded at $22.11, with a volume of 2207467 shares traded.

Other equities analysts also recently issued reports about the stock. 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. BidaskClub downgraded shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, August 8th. Finally, Lake Street Capital upped their price target on shares of Electro Scientific Industries from $14.50 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $21.50.

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in Electro Scientific Industries by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,572,379 shares of the semiconductor company’s stock worth $21,196,000 after buying an additional 58,941 shares during the last quarter. Vanguard Group Inc. increased its position in Electro Scientific Industries by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,622,345 shares of the semiconductor company’s stock worth $13,368,000 after buying an additional 6,881 shares during the last quarter. Divisar Capital Management LLC increased its position in Electro Scientific Industries by 7.8% during the second quarter. Divisar Capital Management LLC now owns 1,549,807 shares of the semiconductor company’s stock worth $12,770,000 after buying an additional 112,319 shares during the last quarter. State Street Corp increased its position in Electro Scientific Industries by 13.4% during the second quarter. State Street Corp now owns 595,910 shares of the semiconductor company’s stock worth $4,911,000 after buying an additional 70,197 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Electro Scientific Industries by 6.1% during the second quarter. Ameriprise Financial Inc. now owns 544,483 shares of the semiconductor company’s stock worth $4,486,000 after buying an additional 31,140 shares during the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 2.00, a current ratio of 2.81 and a debt-to-equity ratio of 0.08.

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

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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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