Lake Street Capital reiterated their buy rating on shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) in a report released on Monday, Marketbeat.com reports. The firm currently has a $14.50 price target on the semiconductor company’s stock, up from their previous price target of $10.50.

Several other brokerages also recently issued reports on ESIO. BidaskClub raised shares of Electro Scientific Industries from a hold rating to a buy rating in a report on Wednesday, August 9th. ValuEngine raised shares of Electro Scientific Industries from a sell rating to a hold rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Electro Scientific Industries from a hold rating to a buy rating and set a $12.00 price target on the stock in a report on Tuesday, August 8th. Finally, Needham & Company LLC raised shares of Electro Scientific Industries from a hold rating to a buy rating and set a $12.00 price target on the stock in a report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $12.83.

Shares of Electro Scientific Industries (NASDAQ ESIO) opened at 13.63 on Monday. Electro Scientific Industries has a 12-month low of $4.50 and a 12-month high of $14.11. The firm has a 50-day moving average of $11.48 and a 200-day moving average of $8.63. The firm’s market cap is $451.64 million.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly 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 net margin of 18.49% and a negative return on equity of 22.18%. The company had revenue of $72.70 million for the quarter, compared to the consensus estimate of $61.10 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, equities analysts forecast that Electro Scientific Industries will post $0.73 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its stake in shares of Electro Scientific Industries by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 200 shares during the period. Arizona State Retirement System lifted its stake in shares of Electro Scientific Industries by 2.4% during 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 period. Trexquant Investment LP purchased a new position in shares of Electro Scientific Industries during the second quarter valued at approximately $124,000. Thrivent Financial For Lutherans lifted its stake in shares of Electro Scientific Industries by 1.8% during the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 330 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Electro Scientific Industries during the second quarter valued at approximately $138,000. 73.16% of the stock is currently owned by institutional investors and hedge funds.

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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