Lake Street Capital Increases Electro Scientific Industries (NASDAQ:ESIO) Price Target to $27.00

Electro Scientific Industries (NASDAQ:ESIO) had its price target raised by stock analysts at Lake Street Capital from $22.00 to $27.00 in a research note issued to investors on Friday, December 1st, Marketbeat reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Lake Street Capital’s price target indicates a potential upside of 37.40% from the stock’s current price.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, November 8th. Needham & Company LLC raised their price objective on Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. DA Davidson reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. BidaskClub raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.50.

Electro Scientific Industries (ESIO) opened at $19.65 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.96 and a current ratio of 2.81. Electro Scientific Industries has a one year low of $5.75 and a one year high of $27.72.

Electro Scientific Industries (NASDAQ:ESIO) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.12. The business had revenue of $70.97 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 139.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) earnings per share. equities analysts anticipate that Electro Scientific Industries will post 1.14 EPS for the current fiscal 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 transaction, the chief financial officer now directly owns 287,665 shares in the company, valued at approximately $6,926,973.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 237,665 shares in the company, valued at $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 hedge funds and other institutional investors have recently made changes to their positions in ESIO. Vanguard Group Inc. boosted its position in Electro Scientific Industries by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock valued at $11,260,000 after acquiring an additional 172,926 shares in the last quarter. Geode Capital Management LLC boosted its position in Electro Scientific Industries by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 300,482 shares of the semiconductor company’s stock valued at $2,094,000 after acquiring an additional 13,047 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Electro Scientific Industries by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock valued at $17,518,000 after acquiring an additional 91,565 shares in the last quarter. Bank of America Corp DE boosted its position in Electro Scientific Industries by 109.2% during the 1st quarter. Bank of America Corp DE now owns 49,374 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 25,771 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Electro Scientific Industries by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 200 shares in the last quarter. 75.41% of the stock is currently owned by institutional investors and hedge funds.

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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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