Arizona State Retirement System boosted its position in shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,365 shares of the semiconductor company’s stock after buying an additional 300 shares during the quarter. Arizona State Retirement System owned approximately 0.05% of Electro Scientific Industries worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Electro Scientific Industries by 109.2% in the first quarter. Bank of America Corp DE now owns 49,374 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 25,771 shares during the period. Wells Fargo & Company MN grew its position in shares of Electro Scientific Industries by 97.9% in the first quarter. Wells Fargo & Company MN now owns 132,539 shares of the semiconductor company’s stock valued at $924,000 after purchasing an additional 65,554 shares during the period. Prudential Financial Inc. grew its position in shares of Electro Scientific Industries by 7.2% in the first quarter. Prudential Financial Inc. now owns 76,832 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 5,130 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Electro Scientific Industries by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 330 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Electro Scientific Industries by 4.5% in the first quarter. Geode Capital Management LLC now owns 300,482 shares of the semiconductor company’s stock valued at $2,094,000 after purchasing an additional 13,047 shares during the period. Institutional investors own 73.16% of the company’s stock.

Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, August 8th. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Needham & Company LLC upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, August 3rd. Finally, Lake Street Capital dropped their target price on shares of Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Electro Scientific Industries has an average rating of “Buy” and a consensus target price of $11.00.

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Shares of Electro Scientific Industries, Inc. (NASDAQ ESIO) opened at 12.40 on Thursday. The stock has a 50 day moving average of $10.86 and a 200 day moving average of $8.40. The firm’s market cap is $410.89 million. Electro Scientific Industries, Inc. has a 12 month low of $4.50 and a 12 month high of $12.78.

Electro Scientific Industries (NASDAQ:ESIO) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The business had revenue of $72.70 million for the quarter, compared to analysts’ expectations of $61.10 million. During the same period in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, equities research analysts expect that Electro Scientific Industries, Inc. will post $0.72 EPS for the current fiscal year.

Electro Scientific Industries Company Profile

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.

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

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