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

Electro Scientific Industries, Inc. (NASDAQ:ESIO) announced its earnings results on Tuesday. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by $0.28. The business had revenue of $49.90 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.11 earnings per share. Electro Scientific Industries updated its Q1 guidance to $0.15-0.20 EPS.

Electro Scientific Industries (NASDAQ:ESIO) traded down 0.88% during trading on Friday, hitting $7.88. 151,187 shares of the company’s stock were exchanged. The firm’s market cap is $262.08 million. Electro Scientific Industries has a 12-month low of $4.50 and a 12-month high of $9.20. The company’s 50-day moving average price is $7.01 and its 200 day moving average price is $6.35.

Earnings History for Electro Scientific Industries (NASDAQ:ESIO)

A number of hedge funds have recently bought and sold shares of ESIO. Dimensional Fund Advisors LP raised its stake in Electro Scientific Industries by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock valued at $17,518,000 after buying an additional 91,565 shares during the period. Vanguard Group Inc. raised its stake in Electro Scientific Industries by 12.0% in the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock valued at $11,260,000 after buying an additional 172,926 shares during the period. Divisar Capital Management LLC raised its stake in Electro Scientific Industries by 24.1% in the first quarter. Divisar Capital Management LLC now owns 1,437,488 shares of the semiconductor company’s stock valued at $10,019,000 after buying an additional 278,813 shares during the period. Renaissance Technologies LLC raised its stake in Electro Scientific Industries by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,326,637 shares of the semiconductor company’s stock valued at $7,854,000 after buying an additional 87,237 shares during the period. Finally, Royce & Associates LP raised its stake in Electro Scientific Industries by 6.7% in the fourth quarter. Royce & Associates LP now owns 960,908 shares of the semiconductor company’s stock valued at $5,689,000 after buying an additional 60,316 shares during the period. 70.23% of the stock is currently owned by institutional investors.

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Several analysts recently issued reports on ESIO shares. TheStreet upgraded shares of Electro Scientific Industries from a “d+” rating to a “c-” rating in a research report on Friday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Electro Scientific Industries in a research report on Monday, February 13th. Finally, Lake Street Capital initiated coverage on shares of Electro Scientific Industries in a research report on Monday, February 27th. They issued a “buy” rating and a $7.50 price target for the company.

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.

5 Day Chart for NASDAQ:ESIO

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