Electro Scientific Industries, Inc. (ESIO) Stock Rating Upgraded by BidaskClub

Electro Scientific Industries, Inc. (NASDAQ:ESIO) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other research analysts have also issued reports about the company. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday. Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, August 3rd. Finally, Lake Street Capital reduced their price target on Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $11.00.

Electro Scientific Industries (NASDAQ ESIO) traded down 2.31% during midday trading on Wednesday, hitting $10.55. The stock had a trading volume of 350,301 shares. The stock’s market cap is $355.41 million. Electro Scientific Industries has a 52-week low of $4.50 and a 52-week high of $10.97. The company’s 50 day moving average price is $8.86 and its 200-day moving average price is $7.59.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.20. The firm had revenue of $72.70 million during the quarter, compared to analyst estimates of $61.10 million. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Analysts forecast that Electro Scientific Industries will post $0.72 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESIO. Louisiana State Employees Retirement System raised its position in Electro Scientific Industries by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its position in Electro Scientific Industries by 1.8% in the second quarter. Arizona State Retirement System now owns 17,365 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 300 shares during the last quarter. Thrivent Financial For Lutherans raised 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 valued at $127,000 after buying an additional 330 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its position in shares of Electro Scientific Industries by 1.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 44,350 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 550 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of 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 valued at $166,000 after buying an additional 580 shares in the last quarter. 71.93% of the stock is owned by hedge funds and other 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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