Stifel Nicolaus cut shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a research note published on Tuesday, The Fly reports. They currently have $30.00 price objective on the semiconductor company’s stock.
Several other brokerages also recently issued reports on ESIO. Lake Street Capital downgraded shares of Electro Scientific Industries from a buy rating to a hold rating in a research note on Tuesday. ValuEngine upgraded shares of Electro Scientific Industries from a hold rating to a buy rating in a research note on Wednesday, August 8th. BidaskClub upgraded shares of Electro Scientific Industries from a strong sell rating to a sell rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded shares of Electro Scientific Industries from a buy rating to a hold rating in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Electro Scientific Industries has an average rating of Hold and a consensus price target of $28.60.
NASDAQ:ESIO traded down $0.21 during mid-day trading on Tuesday, hitting $29.04. 150,453 shares of the company’s stock were exchanged, compared to its average volume of 1,236,624. The firm has a market capitalization of $973.95 million, a P/E ratio of 10.86, a PEG ratio of 1.15 and a beta of 1.12. Electro Scientific Industries has a one year low of $13.92 and a one year high of $29.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.22 and a quick ratio of 2.94.
Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $85.92 million for the quarter, compared to the consensus estimate of $84.35 million. Electro Scientific Industries had a net margin of 37.32% and a return on equity of 48.55%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Electro Scientific Industries will post 2.06 earnings per share for the current fiscal year.
In other news, Director Raymond A. Link sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $23.01, for a total value of $138,060.00. Following the transaction, the director now owns 73,643 shares in the company, valued at $1,694,525.43. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.53% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Swiss National Bank lifted its position in Electro Scientific Industries by 14.2% during the second quarter. Swiss National Bank now owns 58,000 shares of the semiconductor company’s stock valued at $915,000 after purchasing an additional 7,200 shares during the period. Fortis Advisors LLC bought a new position in Electro Scientific Industries during the second quarter valued at approximately $123,000. Bridge City Capital LLC bought a new position in Electro Scientific Industries during the second quarter valued at approximately $1,023,000. DDD Partners LLC lifted its position in Electro Scientific Industries by 1.5% during the second quarter. DDD Partners LLC now owns 332,852 shares of the semiconductor company’s stock valued at $5,249,000 after purchasing an additional 4,935 shares during the period. Finally, Eqis Capital Management Inc. lifted its position in Electro Scientific Industries by 164.5% during the second quarter. Eqis Capital Management Inc. now owns 27,902 shares of the semiconductor company’s stock valued at $440,000 after purchasing an additional 17,353 shares during the period. Institutional investors own 88.83% of the company’s stock.
Electro Scientific Industries Company Profile
Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. The company provides printed circuit board laser drilling products, including laser via drilling systems for electrical interconnect applications that require dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards, and interconnect packages; micro via drilling technology that addresses the changing applications in interconnect packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems that employ technology in lasers, optics, and motion control.
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