Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) have received a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.00.
A number of brokerages recently issued reports on ESIO. TheStreet upgraded Electro Scientific Industries from a “c” rating to a “b-” rating in a research note on Friday, January 19th. Needham & Company LLC boosted their price objective on Electro Scientific Industries from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Lake Street Capital boosted their price objective on Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, DA Davidson reiterated a “buy” rating and set a $32.00 price objective on shares of Electro Scientific Industries in a research note on Thursday, January 18th.
In other Electro Scientific Industries news, CFO Paul R. Oldham sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $24.08, for a total value of $1,444,800.00. Following the completion of the transaction, the chief financial officer now directly owns 287,665 shares in the company, valued at approximately $6,926,973.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.22% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. LS Investment Advisors LLC boosted its stake in Electro Scientific Industries by 723.4% in the 4th quarter. LS Investment Advisors LLC now owns 7,361 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 6,467 shares during the period. JPMorgan Chase & Co. bought a new position in Electro Scientific Industries in the 3rd quarter worth approximately $109,000. Teacher Retirement System of Texas bought a new position in Electro Scientific Industries in the 4th quarter worth approximately $221,000. Campbell & CO Investment Adviser LLC bought a new position in Electro Scientific Industries in the 3rd quarter worth approximately $164,000. Finally, Stevens Capital Management LP bought a new position in Electro Scientific Industries in the 3rd quarter worth approximately $172,000. Institutional investors and hedge funds own 74.70% of the company’s stock.
Electro Scientific Industries (NASDAQ:ESIO) traded down $0.47 during midday trading on Friday, hitting $16.89. 1,362,400 shares of the stock traded hands, compared to its average volume of 1,695,842. Electro Scientific Industries has a 12-month low of $6.17 and a 12-month high of $27.72. The stock has a market cap of $582.46, a price-to-earnings ratio of 27.83, a P/E/G ratio of 0.73 and a beta of 0.76. The company has a quick ratio of 2.04, a current ratio of 2.86 and a debt-to-equity ratio of 0.07.
Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.16. Electro Scientific Industries had a net margin of 7.63% and a return on equity of 14.57%. The firm had revenue of $110.80 million during the quarter, compared to analyst estimates of $107.00 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was up 227.8% compared to the same quarter last year. analysts forecast that Electro Scientific Industries will post 1.99 EPS for the current fiscal year.
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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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