Electro Scientific Industries (ESIO) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Electro Scientific Industries (NASDAQ:ESIO) from a hold rating to a buy rating in a research report report published on Friday, December 22nd. Zacks Investment Research currently has $25.00 price target 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 analysts have also recently issued reports about the company. BidaskClub cut Electro Scientific Industries from a strong-buy rating to a buy rating in a research report on Wednesday, December 6th. Lake Street Capital boosted their price target on Electro Scientific Industries from $22.00 to $27.00 and gave the stock a buy rating in a research report on Friday, December 1st. Needham & Company LLC boosted their price objective on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Finally, DA Davidson restated a buy rating and issued a $25.00 price objective on shares of Electro Scientific Industries in a report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Electro Scientific Industries currently has an average rating of Buy and an average price target of $26.00.

Electro Scientific Industries (NASDAQ ESIO) traded down $0.19 during trading on Friday, reaching $20.05. The company’s stock had a trading volume of 664,146 shares, compared to its average volume of 851,560. The company has a current ratio of 2.81, a quick ratio of 1.96 and a debt-to-equity ratio of 0.08. Electro Scientific Industries has a fifty-two week low of $6.10 and a fifty-two week high of $27.72.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12. Electro Scientific Industries had a negative return on equity of 13.50% and a negative net margin of 9.00%. The business had revenue of $70.97 million for the quarter, compared to analysts’ expectations of $65.53 million. During the same period in the previous year, the firm posted ($0.24) EPS. The business’s revenue was up 139.3% on a year-over-year basis. analysts forecast that Electro Scientific Industries will post 1.14 earnings per share for the current year.

In other Electro Scientific Industries news, CFO Paul R. Oldham sold 120,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the completion of the sale, the chief financial officer now directly owns 237,665 shares in the company, valued at approximately $5,582,750.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul R. Oldham sold 60,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were 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 $6,926,973.20. The disclosure for this sale can be found here. 6.22% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at $109,000. Campbell & CO Investment Adviser LLC bought a new position in Electro Scientific Industries in the 3rd quarter worth $164,000. Stevens Capital Management LP bought a new position in Electro Scientific Industries in the 3rd quarter worth $172,000. Municipal Employees Retirement System of Michigan boosted its holdings in Electro Scientific Industries by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the semiconductor company’s stock worth $174,000 after buying an additional 4,620 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Electro Scientific Industries in the 3rd quarter worth $206,000. 75.30% of the stock is owned by hedge funds and other institutional investors.

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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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