Electro Scientific Industries, Inc. (ESIO) Posts Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Electro Scientific Industries, Inc. (NASDAQ:ESIO) released its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.28, Morningstar.com reports. The firm had revenue of $49.90 million for the quarter, compared to analysts’ expectations of $42.67 million. Electro Scientific Industries had a negative net margin of 10.78% and a negative return on equity of 9.75%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. Electro Scientific Industries updated its Q1 guidance to $0.15-0.20 EPS.

Electro Scientific Industries (NASDAQ:ESIO) opened at 8.75 on Thursday. Electro Scientific Industries has a one year low of $4.50 and a one year high of $9.20. The firm’s market cap is $291.02 million. The company has a 50-day moving average of $7.70 and a 200 day moving average of $6.70.

Earnings History for Electro Scientific Industries (NASDAQ:ESIO)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESIO. Arizona State Retirement System increased its position in Electro Scientific Industries by 2.4% in the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock worth $119,000 after buying an additional 400 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Electro Scientific Industries during the third quarter worth approximately $100,000. Thrivent Financial for Lutherans increased its position in Electro Scientific Industries by 11.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,930 shares of the semiconductor company’s stock worth $106,000 after buying an additional 1,820 shares in the last quarter. Thrivent Financial For Lutherans increased its position in Electro Scientific Industries by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock worth $127,000 after buying an additional 330 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Electro Scientific Industries by 2.5% in the first quarter. Baird Financial Group Inc. now owns 23,854 shares of the semiconductor company’s stock worth $166,000 after buying an additional 580 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Lake Street Capital restated a “buy” rating and set a $9.00 price objective (up previously from $7.50) on shares of Electro Scientific Industries in a report on Wednesday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Electro Scientific Industries in a report on Monday, February 13th. Finally, TheStreet upgraded shares of Electro Scientific Industries from a “d+” rating to a “c-” rating in a report on Friday, February 24th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Electro Scientific Industries currently has a consensus rating of “Hold” and a consensus target price of $8.00.

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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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