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

ESIO has been the topic of a number of recent research reports. Zacks Investment Research downgraded Electro Scientific Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Needham & Company LLC increased 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 stock’s market cap is $203.30 million. The firm’s 50-day moving average price is $6.33 and its 200-day moving average price is $6.59.

Electro Scientific Industries (NASDAQ:ESIO) last announced its earnings results on Tuesday, May 10th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The business had revenue of $51.50 million for the quarter, compared to analysts’ expectations of $49.75 million. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. On average, analysts forecast that Electro Scientific Industries Inc. will post $0.25 EPS for the current 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 transaction of $71,100.00. Following the transaction, the vice president now directly owns 97,674 shares in the company, valued at approximately $694,462.14. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $6.92, for a total value of $35,167.44. Following the transaction, the chief financial officer now 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 stake 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. The firm 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 filing with the SEC.

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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