Paul R. Oldham Sells 60,000 Shares of Electro Scientific Industries, Inc. (ESIO) Stock

Electro Scientific Industries, Inc. (NASDAQ:ESIO) CFO Paul R. Oldham sold 60,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $24.08, for a total transaction of $1,444,800.00. Following the sale, the chief financial officer now owns 287,665 shares of the company’s stock, valued at approximately $6,926,973.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Electro Scientific Industries, Inc. (NASDAQ:ESIO) traded up $0.72 during midday trading on Thursday, reaching $21.20. 1,251,060 shares of the company traded hands, compared to its average volume of 388,438. Electro Scientific Industries, Inc. has a 52-week low of $5.32 and a 52-week high of $27.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 1.96.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.12. The firm had revenue of $70.97 million during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share. sell-side analysts predict that Electro Scientific Industries, Inc. will post 1.14 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ESIO. Parametric Portfolio Associates LLC raised its holdings in Electro Scientific Industries by 3.4% during the first quarter. Parametric Portfolio Associates LLC now owns 88,951 shares of the semiconductor company’s stock worth $620,000 after purchasing an additional 2,887 shares in the last quarter. Prudential Financial Inc. increased its holdings in Electro Scientific Industries by 7.2% in the first quarter. Prudential Financial Inc. now owns 76,832 shares of the semiconductor company’s stock valued at $535,000 after buying an additional 5,130 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Electro Scientific Industries by 4.3% in the first quarter. Principal Financial Group Inc. now owns 248,317 shares of the semiconductor company’s stock valued at $1,731,000 after buying an additional 10,240 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 in the last quarter. 75.41% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently weighed in on ESIO. Lake Street Capital increased their target price on shares of Electro Scientific Industries from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, November 8th. BidaskClub downgraded shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, DA Davidson reiterated a “buy” rating and set 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 assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.50.

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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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