Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) have been assigned an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.33.
Several brokerages have issued reports on ESIO. Lake Street Capital boosted their target price on shares of Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock 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, December 6th. Needham & Company LLC upped their price target 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 reaffirmed a “buy” rating and issued a $25.00 price target on shares of Electro Scientific Industries in a research note on Thursday, November 2nd.
Shares of Electro Scientific Industries (ESIO) traded down $0.01 during trading hours on Friday, reaching $22.15. 534,800 shares of the company’s stock traded hands, compared to its average volume of 418,769. 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 52 week low of $5.75 and a 52 week high of $27.72.
Electro Scientific Industries (NASDAQ:ESIO) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.12. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The company had revenue of $70.97 million for the quarter, compared to the consensus estimate of $65.53 million. During the same period in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 139.3% on a year-over-year basis. sell-side analysts forecast that Electro Scientific Industries will post 1.14 earnings per share for the current fiscal year.
In other news, CFO Paul R. Oldham sold 60,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $24.08, for a total value of $1,444,800.00. Following the transaction, the chief financial officer now directly owns 287,665 shares of the company’s stock, valued at $6,926,973.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul R. Oldham sold 120,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the completion of the transaction, the chief financial officer now directly owns 237,665 shares in the company, valued at $5,582,750.85. The disclosure for this sale can be found here. Corporate insiders own 6.22% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ESIO. JPMorgan Chase & Co. bought a new stake in Electro Scientific Industries in the third quarter worth $109,000. Campbell & CO Investment Adviser LLC bought a new stake in Electro Scientific Industries in the third quarter worth $164,000. Stevens Capital Management LP bought a new stake in Electro Scientific Industries in the third quarter worth $172,000. Municipal Employees Retirement System of Michigan boosted its holdings in Electro Scientific Industries by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 4,620 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Electro Scientific Industries in the third quarter worth $206,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.
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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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