Electro Scientific Industries Inc. (NASDAQ:ESIO) shares dropped 2.7% 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.

ESIO has been the subject of several research analyst reports. Needham & Company LLC upped their price target 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 market capitalization is $189.77 million. The company’s 50 day moving average price is $6.44 and its 200-day moving average price is $6.57.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The business earned $51.50 million during the quarter, compared to analyst estimates of $49.75 million. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. Analysts expect that Electro Scientific Industries Inc. will post $0.25 earnings per share for the current year.

In other news, CFO Paul R. Oldham sold 5,082 shares of Electro Scientific Industries stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $6.92, for a total value of $35,167.44. Following the sale, the chief financial officer now owns 217,706 shares of the company’s stock, valued at $1,506,525.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Bing-Fai Wong sold 10,000 shares of Electro Scientific Industries stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the sale, the vice president now directly owns 97,674 shares in the company, valued at approximately $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 stake in shares of 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 about 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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