Electro Scientific Industries (ESIO) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Electro Scientific Industries (NASDAQ:ESIO) from a hold rating to a sell rating in a report published on Saturday morning.

Several other equities analysts have also recently weighed in on ESIO. ValuEngine raised shares of Electro Scientific Industries from a hold rating to a buy rating in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of Electro Scientific Industries from a hold rating to a strong sell rating in a research note on Wednesday, August 8th. Lake Street Capital cut shares of Electro Scientific Industries from a buy rating to a hold rating in a research note on Tuesday, October 30th. Stifel Nicolaus cut shares of Electro Scientific Industries from a buy rating to a hold rating and set a $30.00 price target for the company. in a research note on Tuesday, October 30th. Finally, DA Davidson cut shares of Electro Scientific Industries from a buy rating to a neutral rating and set a $30.00 price target for the company. in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $28.60.

Shares of ESIO opened at $29.55 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.22 and a beta of 0.06. Electro Scientific Industries has a twelve month low of $13.92 and a twelve month high of $29.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.67 and a quick ratio of 4.16.

Electro Scientific Industries (NASDAQ:ESIO) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $85.92 million during the quarter, compared to analysts’ expectations of $84.35 million. Electro Scientific Industries had a net margin of 37.32% and a return on equity of 45.60%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, sell-side analysts expect that Electro Scientific Industries will post 2.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ESIO. Rhumbline Advisers boosted its holdings in shares of Electro Scientific Industries by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 81,045 shares of the semiconductor company’s stock valued at $1,278,000 after buying an additional 2,570 shares during the last quarter. Globeflex Capital L P boosted its holdings in shares of Electro Scientific Industries by 13.8% in the 2nd quarter. Globeflex Capital L P now owns 28,791 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 3,500 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Electro Scientific Industries by 14.9% in the 3rd quarter. Alps Advisors Inc. now owns 27,068 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 3,508 shares during the last quarter. NumerixS Investment Technologies Inc boosted its holdings in shares of Electro Scientific Industries by 45.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 12,500 shares of the semiconductor company’s stock valued at $199,000 after buying an additional 3,900 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings in shares of Electro Scientific Industries by 4.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 112,900 shares of the semiconductor company’s stock valued at $1,970,000 after buying an additional 4,586 shares during the last quarter. 93.28% of the stock is owned by institutional investors.

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.

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