Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) fell 28.6% during mid-day trading on Wednesday . The company traded as low as $4.74 and last traded at $4.89, with a volume of 1,440,335 shares changing hands. The stock had previously closed at $6.85.

A number of research firms have issued reports on ESIO. 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, July 12th. Needham & Company LLC raised 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 firm has a 50 day moving average of $6.29 and a 200 day moving average of $6.72. The stock’s market cap is $162.08 million.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm had revenue of $47.70 million for the quarter, compared to analyst estimates of $50.75 million. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Electro Scientific Industries Inc. will post $0.25 earnings per share for the current fiscal year.

In other news, VP Bing-Fai Wong sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $7.11, for a total transaction of $71,100.00. Following the completion of the transaction, the vice president now directly owns 97,674 shares of the company’s stock, valued at $694,462.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul R. Oldham sold 5,082 shares of the company’s stock in a transaction dated 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 directly owns 217,706 shares of the company’s stock, valued at $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 boosted its stake in Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, according to its most recent disclosure 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 approximately 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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