Electro Scientific Industries (NASDAQ:ESIO) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, August 8th. Lake Street Capital boosted their target price on Electro Scientific Industries from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Needham & Company LLC boosted their target price on Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, DA Davidson restated a “buy” rating and set a $25.00 target price on shares of Electro Scientific Industries in a report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Electro Scientific Industries has a consensus rating of “Buy” and an average target price of $26.50.

Electro Scientific Industries (NASDAQ ESIO) traded down $0.74 during trading hours on Wednesday, reaching $20.46. The company’s stock had a trading volume of 853,064 shares, compared to its average volume of 1,227,335. Electro Scientific Industries has a 52 week low of $5.63 and a 52 week high of $27.72. The company has a quick ratio of 1.96, a current ratio of 2.81 and a debt-to-equity ratio of 0.08.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.12. Electro Scientific Industries had a negative return on equity of 13.50% and a negative net margin of 9.00%. The company had revenue of $70.97 million during the quarter, compared to analyst estimates of $65.53 million. During the same period in the previous year, the business earned ($0.24) EPS. Electro Scientific Industries’s quarterly revenue was up 139.3% on a year-over-year basis. equities research analysts forecast that Electro Scientific Industries will post 1.14 earnings per share for the current year.

In related news, CFO Paul R. Oldham sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $24.08, for a total value of $1,444,800.00. Following the transaction, the chief financial officer now directly owns 287,665 shares in the company, valued at $6,926,973.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul R. Oldham sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $23.49, for a total value of $2,818,800.00. Following the completion of the transaction, the chief financial officer now owns 237,665 shares in the company, valued at $5,582,750.85. The disclosure for this sale can be found here. Insiders own 6.22% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESIO. JPMorgan Chase & Co. acquired a new position in Electro Scientific Industries in the third quarter valued at approximately $109,000. Louisiana State Employees Retirement System lifted its holdings in 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 acquiring an additional 200 shares during the last quarter. Trexquant Investment LP acquired a new position in Electro Scientific Industries in the second quarter valued at approximately $124,000. Virtu KCG Holdings LLC acquired a new position in Electro Scientific Industries in the second quarter valued at approximately $138,000. Finally, Arizona State Retirement System lifted its holdings in Electro Scientific Industries by 1.8% in the second quarter. Arizona State Retirement System now owns 17,365 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 75.41% of the company’s stock.

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Electro Scientific Industries Company Profile

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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