Electro Scientific Industries Inc. (NASDAQ:ESIO) shares shot up 4.9% during trading on Friday . The company traded as high as $6.42 and last traded at $6.42, with a volume of 63,689 shares trading hands. The stock had previously closed at $6.12.

ESIO has been the topic of a number of research analyst reports. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday. Needham & Company LLC lifted their target price on Electro Scientific Industries from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, May 11th.

The company’s market capitalization is $201.10 million. The firm’s 50-day moving average price is $6.35 and its 200-day moving average price is $6.59.

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

In related news, 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 value of $71,100.00. Following the sale, the vice president now owns 97,674 shares of the company’s stock, valued at approximately $694,462.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $35,167.44. Following the completion of the sale, the chief financial officer now directly owns 217,706 shares in the company, valued at approximately $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 Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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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