Electro Scientific Industries (ESIO) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a research note issued to investors on Saturday, February 10th.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Electro Scientific Industries from a hold rating to a strong-buy rating and set a $30.00 target price on the stock in a research report on Monday, January 22nd. TheStreet raised shares of Electro Scientific Industries from a c rating to a b- rating in a research report on Friday, January 19th. Needham & Company LLC increased their target price on shares of Electro Scientific Industries from $27.00 to $35.00 and gave the company a buy rating in a research report on Thursday, January 18th. DA Davidson reaffirmed a buy rating and issued a $32.00 target price on shares of Electro Scientific Industries in a research report on Thursday, January 18th. Finally, Lake Street Capital increased 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 report on Friday, December 1st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Electro Scientific Industries presently has an average rating of Buy and an average target price of $31.00.

Shares of Electro Scientific Industries (NASDAQ ESIO) opened at $17.41 on Friday. Electro Scientific Industries has a fifty-two week low of $6.17 and a fifty-two week high of $27.72. The stock has a market cap of $578.44, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 0.72 and a beta of 0.76. The company has a current ratio of 2.86, a quick ratio of 2.04 and a debt-to-equity ratio of 0.07.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.99 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $110.80 million for the quarter, compared to analyst estimates of $107.00 million. During the same period last year, the business earned ($0.23) EPS. The company’s revenue was up 227.8% on a year-over-year basis. equities analysts predict that Electro Scientific Industries will post 1.99 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in Electro Scientific Industries during the 3rd quarter worth $109,000. Flinton Capital Management LLC purchased a new position in Electro Scientific Industries during the 4th quarter worth $118,000. Virtu KCG Holdings LLC purchased a new position in Electro Scientific Industries during the 2nd quarter worth $138,000. LS Investment Advisors LLC lifted its stake in shares of 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 acquiring an additional 6,467 shares during the period. Finally, Alliancebernstein L.P. acquired a new stake in shares of Electro Scientific Industries in the 2nd quarter worth $160,000. 76.58% of the stock is currently owned by institutional investors.

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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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