Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) dropped 1.6% on Thursday . The stock traded as low as $6.11 and last traded at $6.12, with a volume of 64,616 shares trading hands. The stock had previously closed at $6.22.

Several research firms have recently commented on ESIO. Zacks Investment Research lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Needham & Company LLC upped their target price on Electro Scientific Industries from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, May 11th.

The company’s market capitalization is $192.60 million. The company’s 50-day moving average is $6.35 and its 200-day moving average is $6.59.

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

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

An institutional investor recently raised its position in Electro Scientific Industries stock. Royce & Associates LLC raised its position in shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, according to its most recent filing with the SEC. 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 5.05% of Electro Scientific Industries worth $8,259,000 at the end of the most recent reporting period.

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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