Electro Scientific Industries, Inc. (NASDAQ:ESIO) had its price target increased by Needham & Company LLC from $12.00 to $27.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 50.92% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Lake Street Capital reiterated a “buy” rating and issued a $14.50 target price (up previously from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. Zacks Investment Research cut shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, DA Davidson lifted their target price on shares of Electro Scientific Industries from $1.45 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $21.50.

Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.12. The company had revenue of $70.97 million for the quarter, compared to analysts’ expectations of $65.53 million. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The firm’s revenue was up 139.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) EPS.

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Institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its holdings in Electro Scientific Industries by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System grew its holdings in Electro Scientific Industries by 2.4% in the 1st quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 400 shares during the last quarter. Trexquant Investment LP bought a new stake in Electro Scientific Industries in the 2nd quarter worth $124,000. Thrivent Financial For Lutherans grew its holdings in Electro Scientific Industries by 1.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 330 shares during the last quarter. Finally, Virtu KCG Holdings LLC bought a new stake in Electro Scientific Industries in the 2nd quarter worth $138,000. 73.09% of the stock is currently owned by institutional investors and hedge funds.

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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