Zacks Investment Research cut shares of Electro Scientific Industries (NASDAQ:ESIO) from a buy rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Electro Scientific Industries, Inc. designs and manufactures sophisticated products used around the world in electronics manufacturing including: laser manufacturing systems for semiconductor yield improvement; production and test equipment for the manufacture of surface mount ceramic capacitors; laser trim systems for precise electrical tuning of circuits; precision laser and mechanical drilling systems for electronic interconnection; and machine vision systems. The systems enable precise engineering and testing of micron to submicron features in semiconductors, LEDs, multi-layer ceramic capacitors (MLCCs), printed circuit boards (PCBs), flex circuits and other high-value components. ESI’s integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials in ways that differentiate their consumer electronics, wearable devices, semiconductor circuits and high-precision components for market advantage. “

Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Electro Scientific Industries from a strong-buy rating to a buy rating in a research note on Wednesday, December 6th. Lake Street Capital boosted their target price on shares of Electro Scientific Industries from $22.00 to $27.00 and gave the company a buy rating in a research note on Friday, December 1st. Needham & Company LLC boosted their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Finally, DA Davidson reiterated a buy rating and issued a $25.00 target price on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $26.50.

Electro Scientific Industries (ESIO) opened at $20.52 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.81 and a quick ratio of 1.96. Electro Scientific Industries has a 52 week low of $5.65 and a 52 week high of $27.72.

Electro Scientific Industries (NASDAQ:ESIO) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. The firm had revenue of $70.97 million for the quarter, compared to analysts’ expectations of $65.53 million. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The company’s quarterly revenue was up 139.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) earnings per share. equities analysts expect that Electro Scientific Industries will post 1.14 EPS for the current year.

In related news, CFO Paul R. Oldham sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $24.08, for a total transaction of $1,444,800.00. Following the sale, the chief financial officer now directly owns 287,665 shares in the company, valued at approximately $6,926,973.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul R. Oldham sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the sale, the chief financial officer now owns 237,665 shares in the company, valued at $5,582,750.85. The disclosure for this sale can be found here. Corporate insiders own 6.22% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Electro Scientific Industries during the 3rd quarter valued at approximately $109,000. Louisiana State Employees Retirement System lifted its stake in shares of Electro Scientific Industries by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Electro Scientific Industries during the 2nd quarter valued at approximately $124,000. Virtu KCG Holdings LLC purchased a new stake in shares of Electro Scientific Industries during the 2nd quarter valued at approximately $138,000. Finally, Arizona State Retirement System lifted its stake in shares of Electro Scientific Industries by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 17,365 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 300 shares in the last quarter. Institutional investors own 75.41% of the company’s stock.

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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.

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