Electro Scientific Industries (ESIO) Stock Price Down 6.6%

Electro Scientific Industries, Inc. (NASDAQ:ESIO) dropped 6.6% during mid-day trading on Friday . The company traded as low as $17.08 and last traded at $17.24. Approximately 1,561,722 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 1,683,898 shares. The stock had previously closed at $18.46.

ESIO has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, December 22nd. BidaskClub lowered shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. DA Davidson reaffirmed a “buy” rating and set a $25.00 target price on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. Lake Street Capital increased their target price on shares of Electro Scientific Industries from $14.50 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC increased their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Electro Scientific Industries has an average rating of “Buy” and a consensus target price of $31.00.

The company has a quick ratio of 2.04, a current ratio of 2.86 and a debt-to-equity ratio of 0.07. The company has a market cap of $578.44, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 0.72 and a beta of 0.76.

Electro Scientific Industries (NASDAQ:ESIO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.16. The company had revenue of $110.80 million during the quarter, compared to analyst estimates of $107.00 million. Electro Scientific Industries had a net margin of 7.63% and a return on equity of 14.57%. Electro Scientific Industries’s revenue was up 227.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) earnings per share. research analysts predict that Electro Scientific Industries, Inc. will post 1.99 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Electro Scientific Industries during the third quarter worth about $109,000. Flinton Capital Management LLC acquired a new stake in shares of Electro Scientific Industries during the fourth quarter worth about $118,000. Virtu KCG Holdings LLC acquired a new stake in shares of Electro Scientific Industries during the second quarter worth about $138,000. LS Investment Advisors LLC lifted its position in shares of Electro Scientific Industries by 723.4% during the fourth quarter. LS Investment Advisors LLC now owns 7,361 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 6,467 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Electro Scientific Industries during the second quarter worth about $160,000. 74.70% 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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