Shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) saw unusually-high trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $27.00 to $35.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 6,909,669 shares changed hands during mid-day trading, an increase of 360% from the previous session’s volume of 1,502,608 shares.The stock last traded at $26.30 and had previously closed at $22.01.

Other research analysts also recently issued reports about the company. BidaskClub downgraded Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Lake Street Capital lifted their target price on Electro Scientific Industries from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, November 8th. Finally, DA Davidson restated a “buy” rating and issued a $25.00 price target on shares of Electro Scientific Industries in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.75.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in ESIO. JPMorgan Chase & Co. acquired a new position in Electro Scientific Industries in the 3rd quarter valued at $109,000. Virtu KCG Holdings LLC acquired a new position in shares of Electro Scientific Industries during the 2nd quarter worth $138,000. Alliancebernstein L.P. acquired a new position in shares of Electro Scientific Industries during the 2nd quarter worth $160,000. PDT Partners LLC raised its holdings in shares of Electro Scientific Industries by 2.2% during the 2nd quarter. PDT Partners LLC now owns 19,631 shares of the semiconductor company’s stock worth $162,000 after buying an additional 431 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Electro Scientific Industries during the 3rd quarter worth $164,000. 75.30% of the stock is owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.96, a current ratio of 2.81 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $871.49, a price-to-earnings ratio of -41.75, a P/E/G ratio of 1.47 and a beta of 0.75.

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

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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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