BidaskClub Upgrades Electro Scientific Industries (ESIO) to Hold

Electro Scientific Industries (NASDAQ:ESIO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other research analysts have also issued reports on the stock. Needham & Company LLC lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. DA Davidson lowered shares of Electro Scientific Industries from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Wednesday, October 31st. ValuEngine upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Stifel Nicolaus lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 30th. Finally, Lake Street Capital lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.60.

Shares of ESIO opened at $29.01 on Thursday. Electro Scientific Industries has a 12 month low of $13.92 and a 12 month high of $29.62. The firm has a market cap of $1.01 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.23 and a beta of -0.01. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.04.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Electro Scientific Industries had a net margin of 37.32% and a return on equity of 45.60%. The company had revenue of $85.92 million for the quarter, compared to analyst estimates of $84.35 million. During the same quarter in the prior year, the business posted $0.39 EPS. Electro Scientific Industries’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts forecast that Electro Scientific Industries will post 2.01 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in Electro Scientific Industries in the 2nd quarter valued at $109,000. Fortis Advisors LLC bought a new stake in Electro Scientific Industries in the 2nd quarter valued at $123,000. Piedmont Investment Advisors LLC bought a new stake in Electro Scientific Industries in the 2nd quarter valued at $126,000. Point72 Asset Management L.P. bought a new stake in Electro Scientific Industries in the 2nd quarter valued at $148,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Electro Scientific Industries by 1,793.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,581 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 9,075 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Electro Scientific Industries

Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. The company provides printed circuit board laser drilling products, including laser via drilling systems for electrical interconnect applications that require dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards, and interconnect packages; micro via drilling technology that addresses the changing applications in interconnect packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems that employ technology in lasers, optics, and motion control.

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