Electro Scientific Industries Inc. (ESIO) Sees Large Volume Increase
Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) saw an uptick in trading volume on Wednesday . 552,713 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 243,164 shares.The stock last traded at $6.74 and had previously closed at $6.66.
Several brokerages recently weighed in on ESIO. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Tuesday, July 12th. Needham & Company LLC increased their price objective on shares of Electro Scientific Industries from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 11th.
The stock’s market capitalization is $212.11 million. The company’s 50 day moving average is $6.27 and its 200-day moving average is $6.67.
Electro Scientific Industries (NASDAQ:ESIO) last released 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 firm earned $51.50 million during the quarter, compared to analysts’ expectations of $49.75 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. Electro Scientific Industries’s revenue was up 37.0% compared to the same quarter last year. Equities research analysts forecast that Electro Scientific Industries Inc. will post $0.25 earnings per share for the current year.
In related news, VP Bing-Fai Wong sold 10,000 shares of the business’s 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 transaction, the vice president now owns 97,674 shares in the company, valued at $694,462.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul R. Oldham sold 5,082 shares of the business’s stock in a transaction dated 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 owns 217,706 shares in the company, valued at approximately $1,506,525.52. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Electro Scientific Industries stock. Royce & Associates LLC increased its stake in shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, according to its most recent 13F filing with the 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 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.