Shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Electro Scientific Industries’ rating score has declined by 33.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price target of $9.50 for the company and are forecasting that the company will post ($0.27) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Electro Scientific Industries an industry rank of 49 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently issued reports on ESIO shares. Zacks Investment Research cut shares of Electro Scientific Industries from a “hold” rating to a “sell” rating in a research note on Monday, August 8th. Needham & Company LLC cut shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd.
In other news, Director Raymond A. Link bought 10,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $5.17 per share, with a total value of $51,700.00. Following the acquisition, the director now owns 43,000 shares in the company, valued at $222,310. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.42% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of ESIO. Kennedy Capital Management Inc. raised its stake 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Electro Scientific Industries during the second quarter valued at $110,000. Bank of New York Mellon Corp raised its stake in Electro Scientific Industries by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 501,601 shares of the company’s stock valued at $2,929,000 after buying an additional 128,646 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Electro Scientific Industries during the second quarter valued at $1,013,000. Finally, Adirondack Research & Management Inc. raised its stake in Electro Scientific Industries by 5.7% in the second quarter. Adirondack Research & Management Inc. now owns 541,244 shares of the company’s stock valued at $3,161,000 after buying an additional 29,136 shares during the last quarter. 69.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Electro Scientific Industries (NASDAQ:ESIO) opened at 5.32 on Tuesday. The company’s market capitalization is $168.57 million. Electro Scientific Industries has a 52-week low of $4.36 and a 52-week high of $7.56. The firm’s 50 day moving average is $5.67 and its 200-day moving average is $6.31.
Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earned $47.70 million during the quarter, compared to analysts’ expectations of $50.75 million. During the same quarter in the prior year, the company posted ($0.14) EPS. The business’s revenue was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Electro Scientific Industries will post ($0.11) earnings per share for the current fiscal year.
About Electro Scientific Industries
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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