Electro Scientific Industries, Inc. (NASDAQ:ESIO) CFO Paul R. Oldham Sells 60,000 Shares

Electro Scientific Industries, Inc. (NASDAQ:ESIO) CFO Paul R. Oldham sold 60,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 287,665 shares of the company’s stock, valued at approximately $6,926,973.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Electro Scientific Industries, Inc. (ESIO) traded up $0.06 during mid-day trading on Wednesday, hitting $20.48. 1,235,735 shares of the stock traded hands, compared to its average volume of 384,760. Electro Scientific Industries, Inc. has a one year low of $5.32 and a one year high of $27.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 1.96.

Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $65.53 million. During the same period last year, the business earned ($0.24) EPS. Electro Scientific Industries’s quarterly revenue was up 139.3% compared to the same quarter last year. sell-side analysts expect that Electro Scientific Industries, Inc. will post 1.14 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 58,941 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 6,881 shares in the last quarter. Divisar Capital Management LLC lifted its holdings 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 purchasing an additional 112,319 shares in the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 70,197 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 31,140 shares in the last quarter. Institutional investors own 75.41% of the company’s stock.

A number of research firms have weighed in on ESIO. Lake Street Capital increased their target price on shares of Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, November 8th. BidaskClub downgraded shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $25.00 price objective on shares of Electro Scientific Industries in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.50.

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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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