Electro Scientific Industries, Inc. (NASDAQ:ESIO) – Equities research analysts at DA Davidson lifted their Q3 2018 earnings estimates for shares of Electro Scientific Industries in a research report issued to clients and investors on Thursday. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $0.78 for the quarter, up from their prior forecast of $0.50. DA Davidson has a “Buy” rating and a $32.00 price objective on the stock. DA Davidson also issued estimates for Electro Scientific Industries’ Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $1.78 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.36 EPS and FY2019 earnings at $1.56 EPS.
Several other equities analysts have also commented on ESIO. Needham & Company LLC upped their target price on Electro Scientific Industries from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Lake Street Capital upped their target price on Electro Scientific Industries from $14.50 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, BidaskClub lowered Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.75.
Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12. The company had revenue of $70.97 million during the quarter, compared to analyst estimates of $65.53 million. Electro Scientific Industries had a negative return on equity of 13.50% and a negative net margin of 9.00%. The business’s revenue was up 139.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its position in Electro Scientific Industries by 3.4% in the third quarter. GSA Capital Partners LLP now owns 93,400 shares of the semiconductor company’s stock worth $1,300,000 after purchasing an additional 3,100 shares during the period. Algert Global LLC acquired a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at $5,205,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at $379,000. Highbridge Capital Management LLC acquired a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at $864,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at $395,000. Hedge funds and other institutional investors own 75.32% of the company’s stock.
In other Electro Scientific Industries 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 completion of the sale, 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 accessible through the SEC website. Also, CFO Paul R. Oldham sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $23.49, for a total value of $2,818,800.00. Following the completion of the sale, the chief financial officer now owns 237,665 shares of the company’s stock, valued at $5,582,750.85. The disclosure for this sale can be found here. Corporate insiders own 6.22% of the company’s stock.
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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