Electro Scientific Industries, Inc. (NASDAQ:ESIO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

ESIO has been the topic of a number of other research reports. Lake Street Capital restated a “buy” rating and issued a $9.00 price target (up previously from $7.50) on shares of Electro Scientific Industries in a research note on Wednesday, May 10th. ValuEngine upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Shares of Electro Scientific Industries (NASDAQ:ESIO) traded up 9.33% during midday trading on Wednesday, hitting $10.43. 1,022,776 shares of the stock traded hands. The company’s market capitalization is $351.37 million. Electro Scientific Industries has a 12-month low of $4.50 and a 12-month high of $10.47. The firm’s 50 day moving average price is $8.49 and its 200 day moving average price is $7.42.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.20. Electro Scientific Industries had a negative return on equity of 21.88% and a negative net margin of 18.49%. The business had revenue of $72.70 million for the quarter, compared to analysts’ expectations of $61.10 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. Analysts expect that Electro Scientific Industries will post $0.54 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Electro Scientific Industries by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock worth $17,518,000 after buying an additional 91,565 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Electro Scientific Industries by 12.0% in the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock worth $11,260,000 after buying an additional 172,926 shares in the last quarter. Divisar Capital Management LLC raised its position in shares of Electro Scientific Industries by 24.1% in the first quarter. Divisar Capital Management LLC now owns 1,437,488 shares of the semiconductor company’s stock worth $10,019,000 after buying an additional 278,813 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Electro Scientific Industries by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 513,343 shares of the semiconductor company’s stock worth $3,578,000 after buying an additional 8,690 shares in the last quarter. Finally, State Street Corp raised its position in shares of Electro Scientific Industries by 10.7% in the fourth quarter. State Street Corp now owns 489,408 shares of the semiconductor company’s stock worth $2,894,000 after buying an additional 47,450 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About Electro Scientific Industries

Electro Scientific Industries, Inc and its subsidiaries supply laser-based manufacturing solutions for industries reliant on microtechnologies. The Company operates through two segments: Component Processing and Micromachining. The Component Processing segment includes interconnect products, semiconductor products and component products.

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