According to Zacks, “Electro Scientific Industries, Inc. and its subsidiaries provides electronics manufacturers with equipment necessary to produce key components used in wireless telecommunications, computers, automotive electronics, and many other electronic products. Additionally, they produce a family of mechanical and laser drilling systems for production of printed wiring boards and advanced electronic packaging, as well as machine vision products for manufacturers of semiconductors, electronics and other products. “
Separately, Needham & Company LLC lowered shares of Electro Scientific Industries from a buy rating to a hold rating in a research note on Wednesday, August 3rd.
Electro Scientific Industries (NASDAQ:ESIO) opened at 5.44 on Tuesday. The firm’s 50 day moving average price is $5.67 and its 200-day moving average price is $6.38. The stock’s market cap is $172.38 million. Electro Scientific Industries has a 52 week low of $4.36 and a 52 week high of $7.56.
Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. Electro Scientific Industries had a negative net margin of 3.18% and a negative return on equity of 0.53%. The company had revenue of $47.70 million for the quarter, compared to analyst estimates of $50.75 million. During the same quarter last year, the business earned ($0.14) earnings per share. Electro Scientific Industries’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Electro Scientific Industries will post ($0.11) EPS for the current year.
In related news, Director Raymond A. Link acquired 10,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average price of $5.17 per share, for a total transaction of $51,700.00. Following the completion of the purchase, the director now directly owns 43,000 shares of the company’s stock, valued at $222,310. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.42% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Electro Scientific Industries by 20.9% in the first quarter. Prudential Financial Inc. now owns 73,572 shares of the company’s stock worth $526,000 after buying an additional 12,700 shares in the last quarter. UBS Group AG raised its position in Electro Scientific Industries by 5,105.9% in the first quarter. UBS Group AG now owns 76,422 shares of the company’s stock valued at $547,000 after buying an additional 74,954 shares during the period. Goldman Sachs Group Inc. raised its position in Electro Scientific Industries by 59.8% in the first quarter. Goldman Sachs Group Inc. now owns 178,943 shares of the company’s stock valued at $1,279,000 after buying an additional 66,935 shares during the period. Geode Capital Management LLC raised its position in Electro Scientific Industries by 11.3% in the first quarter. Geode Capital Management LLC now owns 152,587 shares of the company’s stock valued at $1,090,000 after buying an additional 15,530 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in Electro Scientific Industries by 79.9% in the first quarter. Kennedy Capital Management Inc. now owns 280,781 shares of the company’s stock valued at $2,008,000 after buying an additional 124,687 shares during the period. Institutional investors and hedge funds own 69.90% of the company’s stock.
Electro Scientific Industries Company Profile
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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