Electro Scientific Industries (NASDAQ:ESIO) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a report issued on Saturday, February 10th.

Other research analysts have also recently issued reports about the company. TheStreet raised Electro Scientific Industries from a c rating to a b- rating in a research report on Friday, January 19th. Zacks Investment Research raised Electro Scientific Industries from a hold rating to a buy rating and set a $25.00 price target for the company in a research report on Friday, December 22nd. 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 report on Friday, December 1st. 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 report on Thursday, November 2nd. Finally, DA Davidson reiterated a buy rating and set a $25.00 target price on shares of Electro Scientific Industries 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’s stock. The company presently has an average rating of Buy and a consensus target price of $31.00.

Shares of Electro Scientific Industries (NASDAQ:ESIO) opened at $17.24 on Friday. The company has a market capitalization of $578.44, a PE ratio of 28.73, a P/E/G ratio of 0.72 and a beta of 0.76. The company has a quick ratio of 2.04, a current ratio of 2.86 and a debt-to-equity ratio of 0.07. Electro Scientific Industries has a fifty-two week low of $6.17 and a fifty-two week high of $27.72.

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

Several institutional investors and hedge funds have recently modified their holdings of ESIO. Wells Fargo & Company MN increased its stake in shares of Electro Scientific Industries by 88.1% in the 2nd quarter. Wells Fargo & Company MN now owns 249,363 shares of the semiconductor company’s stock valued at $2,056,000 after purchasing an additional 116,824 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Electro Scientific Industries during the 2nd quarter valued at $160,000. Teachers Advisors LLC boosted its holdings in shares of Electro Scientific Industries by 17.8% during the 2nd quarter. Teachers Advisors LLC now owns 52,939 shares of the semiconductor company’s stock valued at $436,000 after acquiring an additional 8,008 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Electro Scientific Industries by 12.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 84,828 shares of the semiconductor company’s stock valued at $699,000 after acquiring an additional 9,330 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Electro Scientific Industries by 6.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 544,483 shares of the semiconductor company’s stock valued at $4,486,000 after acquiring an additional 31,140 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.

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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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