Prudential Financial Inc. reduced its position in Electro Scientific Industries, Inc. (NASDAQ:ESIO) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,002 shares of the semiconductor company’s stock after selling 13,560 shares during the quarter. Prudential Financial Inc. owned approximately 0.19% of Electro Scientific Industries worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in ESIO. Louisiana State Employees Retirement System grew its position in shares of Electro Scientific Industries by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 200 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Electro Scientific Industries in the second quarter valued at $124,000. Virtu KCG Holdings LLC purchased a new position in shares of Electro Scientific Industries in the second quarter valued at $138,000. Arizona State Retirement System grew its position in shares of Electro Scientific Industries by 1.8% in the second quarter. Arizona State Retirement System now owns 17,365 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 300 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new position in shares of Electro Scientific Industries in the second quarter valued at $160,000. Institutional investors own 75.41% of the company’s stock.

Electro Scientific Industries, Inc. (ESIO) opened at $20.46 on Friday. Electro Scientific Industries, Inc. has a 52-week low of $5.63 and a 52-week high of $27.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 1.96.

Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.12. Electro Scientific Industries had a negative return on equity of 13.50% and a negative net margin of 9.00%. The business had revenue of $70.97 million during the quarter, compared to analysts’ expectations of $65.53 million. During the same period in the previous year, the business earned ($0.24) earnings per share. The firm’s revenue was up 139.3% on a year-over-year basis. equities analysts anticipate that Electro Scientific Industries, Inc. will post 1.14 earnings per share for the current fiscal year.

In related news, CFO Paul R. Oldham sold 120,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the completion of the transaction, the chief financial officer now directly owns 237,665 shares in the company, valued at $5,582,750.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul R. Oldham sold 60,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $24.08, for a total value of $1,444,800.00. Following the transaction, the chief financial officer now owns 287,665 shares of the company’s stock, valued at $6,926,973.20. The disclosure for this sale can be found here. 6.22% of the stock is owned by insiders.

Several equities analysts have recently weighed in on the company. Lake Street Capital lifted their price target on Electro Scientific Industries from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, November 8th. BidaskClub cut Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $25.00 price target on shares of Electro Scientific Industries in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $26.50.

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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.

Institutional Ownership by Quarter for Electro Scientific Industries (NASDAQ:ESIO)

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