Electro Scientific Industries, Inc. (ESIO) Downgraded by BidaskClub

Electro Scientific Industries, Inc. (NASDAQ:ESIO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, August 2nd.

A number of other brokerages also recently commented on ESIO. Lake Street Capital reaffirmed a “buy” rating and set a $9.00 price objective (up from $7.50) on shares of Electro Scientific Industries in a research report on Wednesday, May 10th. ValuEngine raised shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.00.

Shares of Electro Scientific Industries (ESIO) traded down 2.31% during midday trading on Wednesday, hitting $10.55. 350,301 shares of the stock were exchanged. The company’s market cap is $349.58 million. Electro Scientific Industries has a 12-month low of $4.50 and a 12-month high of $10.97. The firm has a 50-day moving average price of $8.92 and a 200-day moving average price of $7.62.

Electro Scientific Industries (NASDAQ:ESIO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.20. The business had revenue of $72.70 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, equities analysts predict that Electro Scientific Industries will post $0.72 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of ESIO. Guggenheim Capital LLC boosted its stake in Electro Scientific Industries by 1,970.7% in the fourth quarter. Guggenheim Capital LLC now owns 247,904 shares of the semiconductor company’s stock worth $1,467,000 after buying an additional 235,932 shares during the period. Teton Advisors Inc. boosted its stake in Electro Scientific Industries by 51.4% in the first quarter. Teton Advisors Inc. now owns 152,939 shares of the semiconductor company’s stock worth $1,066,000 after buying an additional 51,900 shares during the period. Comerica Bank boosted its stake in Electro Scientific Industries by 8.4% in the fourth quarter. Comerica Bank now owns 34,153 shares of the semiconductor company’s stock worth $220,000 after buying an additional 2,660 shares during the period. State Street Corp boosted its stake in 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, Russell Investments Group Ltd. acquired a new stake in Electro Scientific Industries during the fourth quarter worth about $541,000. Hedge funds and other institutional investors own 71.93% of the company’s stock.

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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