Electro Scientific Industries, Inc. (NASDAQ:ESIO) had its price target lowered by investment analysts at Lake Street Capital from $10.50 to $9.00 in a note issued to investors on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Lake Street Capital’s price target suggests a potential downside of 13.96% from the company’s previous close.

Other analysts also recently issued reports about the company. BidaskClub upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Needham & Company LLC upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Finally, ValuEngine upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Electro Scientific Industries presently has a consensus rating of “Buy” and an average target price of $11.00.

Shares of Electro Scientific Industries (NASDAQ ESIO) traded down 1.69% on Thursday, hitting $10.46. The stock had a trading volume of 759,503 shares. The firm has a 50 day moving average of $8.58 and a 200 day moving average of $7.46. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $10.97. The stock’s market cap is $352.38 million.

Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.20. The company had revenue of $72.70 million for the quarter, compared to the consensus estimate of $61.10 million. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. Electro Scientific Industries’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. On average, equities analysts forecast that Electro Scientific Industries will post $0.54 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of Electro Scientific Industries by 11.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,930 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 1,820 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Electro Scientific Industries by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Electro Scientific Industries by 2.4% in the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 400 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Electro Scientific Industries during the second quarter valued at about $124,000. Finally, Thrivent Financial For Lutherans increased its stake in shares of Electro Scientific Industries by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 330 shares in the last quarter. Institutional investors own 71.93% of the company’s stock.

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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