Electro Scientific Industries (NASDAQ:ESIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $18.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.14% from the stock’s current price.
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 raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. ValuEngine raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Stifel Nicolaus assumed coverage on Electro Scientific Industries in a report on Wednesday, March 14th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Lake Street Capital set a $30.00 price objective on Electro Scientific Industries and gave the stock a “buy” rating in a report on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Electro Scientific Industries has an average rating of “Buy” and a consensus target price of $30.40.
Shares of ESIO traded down $0.39 during mid-day trading on Thursday, hitting $15.91. The company’s stock had a trading volume of 893,300 shares, compared to its average volume of 987,316. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.49 and a quick ratio of 2.41. The stock has a market capitalization of $571.59 million, a P/E ratio of 5.94, a P/E/G ratio of 0.63 and a beta of 0.96. Electro Scientific Industries has a 1-year low of $7.50 and a 1-year high of $27.72.
Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.87 by $0.15. The business had revenue of $113.39 million during the quarter, compared to analysts’ expectations of $103.53 million. Electro Scientific Industries had a return on equity of 40.37% and a net margin of 31.59%. The company’s quarterly revenue was up 127.1% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. research analysts anticipate that Electro Scientific Industries will post 2.23 EPS for the current year.
A number of hedge funds have recently modified their holdings of ESIO. Hood River Capital Management LLC acquired a new position in Electro Scientific Industries during the first quarter worth $13,564,000. Shellback Capital LP acquired a new position in Electro Scientific Industries during the fourth quarter worth $12,407,000. Teachers Advisors LLC raised its holdings in Electro Scientific Industries by 674.8% during the fourth quarter. Teachers Advisors LLC now owns 561,583 shares of the semiconductor company’s stock worth $12,035,000 after purchasing an additional 489,100 shares during the last quarter. Bogle Investment Management L P DE increased its position in Electro Scientific Industries by 240.3% during the fourth quarter. Bogle Investment Management L P DE now owns 634,710 shares of the semiconductor company’s stock worth $13,601,000 after buying an additional 448,185 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in Electro Scientific Industries by 3,562.3% during the fourth quarter. Gotham Asset Management LLC now owns 386,744 shares of the semiconductor company’s stock worth $8,288,000 after buying an additional 376,184 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.
Electro Scientific Industries Company Profile
Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. It provides printed circuit boards, including laser via drilling systems for electrical interconnect applications; micro via drilling technology that addresses the changing applications in integrated circuit packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems comprising single-beam and multi-beam systems.
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