Electro Scientific Industries (ESIO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a research report report published on Friday.

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. “

A number of other research firms also recently issued reports on ESIO. BidaskClub upgraded Electro Scientific Industries from a buy rating to a strong-buy rating in a research note on Wednesday, March 21st. Lake Street Capital set a $30.00 price target on Electro Scientific Industries and gave the company a buy rating in a research note on Thursday, March 22nd. Stifel Nicolaus began coverage on Electro Scientific Industries in a research note on Wednesday, March 14th. They set a buy rating and a $36.00 price target for the company. Finally, ValuEngine downgraded Electro Scientific Industries from a buy rating to a hold rating in a research note on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $30.40.

Electro Scientific Industries traded down $0.14, reaching $15.77, during mid-day trading on Friday, MarketBeat reports. 797,732 shares of the company traded hands, compared to its average volume of 810,544. The company has a market capitalization of $542.60 million, a P/E ratio of 5.88, a price-to-earnings-growth ratio of 0.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.41 and a current ratio of 3.49. Electro Scientific Industries has a fifty-two week low of $7.50 and a fifty-two week high of $27.72.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.15. The business had revenue of $113.39 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. sell-side analysts forecast that Electro Scientific Industries will post 2.23 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Electro Scientific Industries by 170.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 463,304 shares of the semiconductor company’s stock worth $9,929,000 after buying an additional 292,002 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Electro Scientific Industries by 63.6% during the 4th quarter. Two Sigma Advisers LP now owns 463,898 shares of the semiconductor company’s stock worth $9,941,000 after buying an additional 180,364 shares in the last quarter. Bogle Investment Management L P DE lifted its position in shares of Electro Scientific Industries by 240.3% during the 4th 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. Rhumbline Advisers lifted its position in shares of Electro Scientific Industries by 5.3% during the 1st quarter. Rhumbline Advisers now owns 78,475 shares of the semiconductor company’s stock worth $1,517,000 after buying an additional 3,917 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new position in shares of Electro Scientific Industries during the 4th quarter worth approximately $546,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Electro Scientific Industries

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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