Electro Scientific Industries, Inc. (ESIO) Receives $11.00 Average Price Target from Brokerages

Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) have received an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.00.

ESIO has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Lake Street Capital cut their target price on shares of Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Needham & Company LLC upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.

A number of hedge funds have recently bought and sold shares of ESIO. Wells Fargo & Company MN raised its position in Electro Scientific Industries by 97.9% in the 1st quarter. Wells Fargo & Company MN now owns 132,539 shares of the semiconductor company’s stock worth $924,000 after purchasing an additional 65,554 shares during the last quarter. Comerica Bank raised its position in Electro Scientific Industries by 4.9% in the 1st quarter. Comerica Bank now owns 35,815 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 1,662 shares during the last quarter. Ameriprise Financial Inc. raised its position in Electro Scientific Industries by 1.7% in the 1st quarter. Ameriprise Financial Inc. now owns 513,343 shares of the semiconductor company’s stock worth $3,578,000 after purchasing an additional 8,690 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Electro Scientific Industries by 3.4% in the 1st 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 during the last quarter. Finally, State of Tennessee Treasury Department raised its position in Electro Scientific Industries by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 25,330 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 3,823 shares during the last quarter. Hedge funds and other institutional investors own 73.16% of the company’s stock.

Electro Scientific Industries (ESIO) traded up 3.48% during mid-day trading on Wednesday, reaching $12.78. The company had a trading volume of 789,624 shares. Electro Scientific Industries has a 52-week low of $4.50 and a 52-week high of $13.08. The company’s 50 day moving average is $11.18 and its 200 day moving average is $8.50. The stock’s market capitalization is $423.48 million.

Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.20. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The company had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. Electro Scientific Industries’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities analysts predict that Electro Scientific Industries will post $0.72 earnings per share for the current year.

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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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