Electro Scientific Industries, Inc. (NASDAQ:ESIO) shares reached a new 52-week high on Wednesday . The stock traded as high as $11.34 and last traded at $11.33, with a volume of 276,001 shares traded. The stock had previously closed at $11.04.

Several research analysts have weighed in on ESIO shares. BidaskClub raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Lake Street Capital cut their price objective on Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, August 8th. Finally, Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Electro Scientific Industries presently has a consensus rating of “Buy” and a consensus price target of $11.00.

The firm has a 50-day moving average of $9.36 and a 200-day moving average of $7.83. The firm’s market cap is $375.10 million.

Electro Scientific Industries (NASDAQ:ESIO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. The firm had revenue of $72.70 million for the quarter, compared to the consensus estimate of $61.10 million. During the same period in the prior year, the firm earned $0.09 EPS. The firm’s revenue was up 52.4% on a year-over-year basis. Equities analysts expect that Electro Scientific Industries, Inc. will post $0.72 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in Electro Scientific Industries by 2.4% in the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 400 shares during the last quarter. SG Americas Securities LLC purchased a new position in Electro Scientific Industries during the first quarter valued at about $197,000. Prudential Financial Inc. increased its position in Electro Scientific Industries by 7.2% in the first quarter. Prudential Financial Inc. now owns 76,832 shares of the semiconductor company’s stock valued at $535,000 after buying an additional 5,130 shares during the last quarter. Baird Financial Group Inc. increased its position in Electro Scientific Industries by 2.5% in the first quarter. Baird Financial Group Inc. now owns 23,854 shares of the semiconductor company’s stock valued at $166,000 after buying an additional 580 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in Electro Scientific Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 25,330 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 3,823 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

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Electro Scientific Industries Company Profile

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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