Electro Scientific Industries Inc. (ESIO) Raised to “Hold” at Zacks Investment Research
Electro Scientific Industries Inc. (NASDAQ:ESIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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 cut shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd.
Electro Scientific Industries (NASDAQ:ESIO) traded down 2.86% on Tuesday, reaching $5.44. 86,830 shares of the company traded hands. The firm has a 50 day moving average price of $5.67 and a 200 day moving average price of $6.38. Electro Scientific Industries has a 52-week low of $4.36 and a 52-week high of $7.56. The stock’s market capitalization is $172.38 million.
Electro Scientific Industries (NASDAQ:ESIO) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, topping 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 firm had revenue of $47.70 million for the quarter, compared to analysts’ expectations of $50.75 million. During the same period in the previous year, the business earned ($0.14) earnings per share. Electro Scientific Industries’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts predict that Electro Scientific Industries will post ($0.11) EPS for the current year.
In other Electro Scientific Industries news, Director Raymond A. Link purchased 10,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were purchased at an average cost of $5.17 per share, for a total transaction of $51,700.00. Following the completion of the transaction, the director now owns 43,000 shares in the company, valued at $222,310. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.42% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Electro Scientific Industries by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,401,803 shares of the company’s stock valued at $14,027,000 after buying an additional 124,553 shares during the period. BlackRock Fund Advisors increased its stake in Electro Scientific Industries by 61.3% in the second quarter. BlackRock Fund Advisors now owns 1,868,978 shares of the company’s stock valued at $10,915,000 after buying an additional 710,158 shares during the last quarter. Vanguard Group Inc. increased its stake in Electro Scientific Industries by 20.5% in the second quarter. Vanguard Group Inc. now owns 1,306,163 shares of the company’s stock valued at $7,628,000 after buying an additional 222,499 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Electro Scientific Industries by 27.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 904,264 shares of the company’s stock valued at $5,281,000 after buying an additional 197,160 shares during the last quarter. Finally, Adirondack Research & Management Inc. increased 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. Hedge funds and other institutional investors own 69.90% of the company’s stock.
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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