Zacks Investment Research Upgrades Electro Scientific Industries (ESIO) to Strong-Buy

Electro Scientific Industries (NASDAQ:ESIO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The firm presently has a $30.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.05% from the company’s current price.

According to Zacks, “Electro Scientific Industries, Inc. designs and manufactures sophisticated products used around the world in electronics manufacturing including: laser manufacturing systems for semiconductor yield improvement; production and test equipment for the manufacture of surface mount ceramic capacitors; laser trim systems for precise electrical tuning of circuits; precision laser and mechanical drilling systems for electronic interconnection; and machine vision systems. The systems enable precise engineering and testing of micron to submicron features in semiconductors, LEDs, multi-layer ceramic capacitors (MLCCs), printed circuit boards (PCBs), flex circuits and other high-value components. ESI’s integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials in ways that differentiate their consumer electronics, wearable devices, semiconductor circuits and high-precision components for market advantage. “

Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price objective on Electro Scientific Industries from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Electro Scientific Industries in a research note on Thursday. Lake Street Capital raised their price objective on Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, BidaskClub downgraded Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Electro Scientific Industries has a consensus rating of “Buy” and a consensus price target of $31.00.

Electro Scientific Industries (NASDAQ ESIO) traded down $0.59 during midday trading on Monday, reaching $25.85. The company had a trading volume of 1,970,000 shares, compared to its average volume of 1,220,000. Electro Scientific Industries has a 12-month low of $6.10 and a 12-month high of $27.72. The stock has a market cap of $856.58, a P/E ratio of -41.03, a P/E/G ratio of 1.24 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 released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share for the quarter, beating the 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 firm had revenue of $70.97 million during the quarter, compared to the consensus estimate of $65.53 million. During the same period last year, the business posted ($0.24) EPS. Electro Scientific Industries’s quarterly revenue was up 139.3% on a year-over-year basis. equities research analysts anticipate that Electro Scientific Industries will post 1.78 earnings per share for the current year.

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

A number of institutional investors have recently added to or reduced their stakes in the business. PDT Partners LLC increased its position in Electro Scientific Industries by 2.2% during the second quarter. PDT Partners LLC now owns 19,631 shares of the semiconductor company’s stock worth $162,000 after buying an additional 431 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Electro Scientific Industries by 0.9% during the second quarter. California State Teachers Retirement System now owns 55,864 shares of the semiconductor company’s stock worth $460,000 after purchasing an additional 500 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Electro Scientific Industries by 9.6% during the second quarter. Thrivent Financial For Lutherans now owns 20,020 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 1,760 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Electro Scientific Industries by 3.4% during 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 last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Electro Scientific Industries by 6.5% during the third quarter. Russell Investments Group Ltd. now owns 52,964 shares of the semiconductor company’s stock worth $737,000 after purchasing an additional 3,225 shares during the last quarter. 75.32% of the stock is owned by institutional investors.

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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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