Electro Scientific Industries Inc. (NASDAQ:ESIO) shares fell 2.7% during mid-day trading on Thursday . The stock traded as low as $5.80 and last traded at $5.82, with a volume of 222,383 shares traded. The stock had previously closed at $5.98.

Several brokerages have issued reports on ESIO. Needham & Company LLC raised their price objective on shares of Electro Scientific Industries from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, May 11th. Zacks Investment Research downgraded shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th.

The firm’s 50 day moving average is $6.46 and its 200 day moving average is $6.56. The stock’s market cap is $183.16 million.

Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Tuesday, May 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. During the same period in the previous year, the firm posted ($0.21) earnings per share. The firm had revenue of $51.50 million for the quarter, compared to analyst estimates of $49.75 million. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. On average, analysts expect that Electro Scientific Industries Inc. will post $0.25 EPS for the current year.

In other news, CFO Paul R. Oldham sold 5,082 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $6.92, for a total transaction of $35,167.44. Following the transaction, the chief financial officer now directly owns 217,706 shares of the company’s stock, valued at $1,506,525.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Bing-Fai Wong sold 10,000 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $7.11, for a total transaction of $71,100.00. Following the transaction, the vice president now directly owns 97,674 shares in the company, valued at $694,462.14. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Electro Scientific Industries stock. Royce & Associates LLC boosted its position in Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,591,279 shares of the company’s stock after buying an additional 168,700 shares during the period. Royce & Associates LLC owned approximately 5.05% of Electro Scientific Industries worth $8,259,000 at the end of the most recent quarter.

Electro Scientific Industries, Inc is a supplier of laser-based manufacturing solutions for the micro technology industry. The Company operates in two segments, Component Processing and Micromachining. Its Component Processing segment includes interconnect products, semiconductor products and component products.

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