Electro Scientific Industries, Inc. (ESIO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. The firm currently has $27.00 price objective on the semiconductor company’s stock.

According to Zacks, “Electro Scientific Industries, Inc. designs and manufactures sophisticated products used around the world in electronics manufacturing including: laser manufacturing systems for semiconductor yield improvement; production and test equipment for the manufacture of surface mount ceramic capacitors; laser trim systems for precise electrical tuning of circuits; precision laser and mechanical drilling systems for electronic interconnection; and machine vision systems. The systems enable precise engineering and testing of micron to submicron features in semiconductors, LEDs, multi-layer ceramic capacitors (MLCCs), printed circuit boards (PCBs), flex circuits and other high-value components. ESI’s integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials in ways that differentiate their consumer electronics, wearable devices, semiconductor circuits and high-precision components for market advantage. “

Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Electro Scientific Industries from a buy rating to a hold rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Electro Scientific Industries from a sell rating to a hold rating in a research note on Thursday, August 3rd. Needham & Company LLC upped their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Lake Street Capital upped their target price on shares of Electro Scientific Industries from $14.50 to $22.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Finally, DA Davidson restated a buy rating and issued a $25.00 target price on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $25.25.

Shares of Electro Scientific Industries (NASDAQ:ESIO) opened at $22.76 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.96 and a current ratio of 2.81. Electro Scientific Industries has a 12 month low of $4.97 and a 12 month high of $24.15.

Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. The business had revenue of $70.97 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) EPS. equities research analysts forecast that Electro Scientific Industries will post 1.14 EPS for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 58,941 shares during the period. Vanguard Group Inc. raised its stake 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 acquiring an additional 6,881 shares during the period. Divisar Capital Management LLC raised its stake 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 acquiring an additional 112,319 shares during the period. State Street Corp raised its stake 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 acquiring an additional 70,197 shares during the period. Finally, Ameriprise Financial Inc. raised its stake 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 acquiring an additional 31,140 shares during the period. Hedge funds and other institutional investors own 72.88% of the company’s stock.

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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