Bank of America Corp DE boosted its stake in Electro Scientific Industries, Inc. (NASDAQ:ESIO) by 109.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,374 shares of the semiconductor company’s stock after buying an additional 25,771 shares during the period. Bank of America Corp DE owned about 0.15% of Electro Scientific Industries worth $344,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Electro Scientific Industries by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock valued at $17,518,000 after buying an additional 91,565 shares during the period. Vanguard Group Inc. boosted its stake in shares of Electro Scientific Industries by 12.0% in the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock worth $11,260,000 after buying an additional 172,926 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Electro Scientific Industries by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 513,343 shares of the semiconductor company’s stock worth $3,578,000 after buying an additional 8,690 shares during the period. State Street Corp boosted its stake in shares of Electro Scientific Industries by 10.7% in the fourth quarter. State Street Corp now owns 489,408 shares of the semiconductor company’s stock worth $2,894,000 after buying an additional 47,450 shares during the period. Finally, Kennedy Capital Management Inc. boosted its stake in shares of Electro Scientific Industries by 26.2% in the first quarter. Kennedy Capital Management Inc. now owns 457,623 shares of the semiconductor company’s stock worth $3,190,000 after buying an additional 95,041 shares during the period. 73.16% of the stock is owned by institutional investors and hedge funds.

Shares of Electro Scientific Industries, Inc. (ESIO) traded down 0.64% during midday trading on Wednesday, reaching $12.42. 97,996 shares of the company were exchanged. Electro Scientific Industries, Inc. has a 52-week low of $4.50 and a 52-week high of $12.60. The company’s market capitalization is $411.55 million. The stock’s 50-day moving average price is $9.68 and its 200-day moving average price is $7.95.

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 Thomson Reuters’ consensus estimate of $0.18 by $0.20. The firm had revenue of $72.70 million for the quarter, compared to analyst estimates of $61.10 million. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Analysts anticipate that Electro Scientific Industries, Inc. will post $0.72 EPS for the current year.

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A number of brokerages recently weighed in on ESIO. BidaskClub raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, August 8th. ValuEngine raised shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Needham & Company LLC raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, August 3rd. Finally, Lake Street Capital reduced their price target on shares of Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.00.

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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