Electro Scientific Industries’ (ESIO) Buy Rating Reiterated at DA Davidson

Electro Scientific Industries (NASDAQ:ESIO)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research note issued on Thursday. They currently have a $32.00 target price on the semiconductor company’s stock. DA Davidson’s price objective indicates a potential upside of 21.03% from the stock’s previous close. DA Davidson also issued estimates for Electro Scientific Industries’ Q3 2019 earnings at $0.17 EPS and Q4 2019 earnings at $0.29 EPS.

ESIO has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, December 22nd. BidaskClub lowered shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Lake Street Capital lifted their price objective on shares of Electro Scientific Industries from $14.50 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $29.75.

Shares of Electro Scientific Industries (ESIO) traded up $0.14 on Thursday, reaching $26.44. 2,032,833 shares of the company were exchanged, compared to its average volume of 1,040,747. Electro Scientific Industries has a one year low of $6.10 and a one year high of $27.72. The company has a market cap of $885.53, a price-to-earnings ratio of -41.97, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75. 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 announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The company had revenue of $70.97 million during the quarter, compared to analyst estimates of $65.53 million. During the same quarter last year, the business posted ($0.24) EPS. The firm’s revenue for the quarter was up 139.3% on a year-over-year basis. equities analysts predict that Electro Scientific Industries will post 1.78 EPS for the current year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Electro Scientific Industries by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,572,379 shares of the semiconductor company’s stock worth $21,196,000 after buying an additional 58,941 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Electro Scientific Industries by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,622,345 shares of the semiconductor company’s stock worth $13,368,000 after buying an additional 6,881 shares during the last quarter. Divisar Capital Management LLC grew its position in shares of Electro Scientific Industries by 7.8% in the 2nd quarter. Divisar Capital Management LLC now owns 1,549,807 shares of the semiconductor company’s stock worth $12,770,000 after buying an additional 112,319 shares during the last quarter. State Street Corp grew its position in shares of Electro Scientific Industries by 13.4% in the 2nd quarter. State Street Corp now owns 595,910 shares of the semiconductor company’s stock worth $4,911,000 after buying an additional 70,197 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Electro Scientific Industries by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 544,483 shares of the semiconductor company’s stock worth $4,486,000 after buying an additional 31,140 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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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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