Municipal Employees Retirement System of Michigan grew its stake in Electro Scientific Industries, Inc. (NASDAQ:ESIO) by 58.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,480 shares of the semiconductor company’s stock after purchasing an additional 4,620 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Electro Scientific Industries were worth $174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Electro Scientific Industries by 59.6% in the third quarter. BNP Paribas Arbitrage SA now owns 16,520 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 6,168 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Electro Scientific Industries in the third quarter valued at about $172,000. Chicago Equity Partners LLC acquired a new stake in shares of Electro Scientific Industries in the third quarter valued at about $563,000. Foundry Partners LLC grew its position in shares of Electro Scientific Industries by 9.0% in the third quarter. Foundry Partners LLC now owns 342,045 shares of the semiconductor company’s stock valued at $4,761,000 after purchasing an additional 28,250 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in Electro Scientific Industries during the third quarter worth about $317,000. Institutional investors and hedge funds own 75.41% of the company’s stock.

Electro Scientific Industries, Inc. (ESIO) opened at $20.67 on Friday. Electro Scientific Industries, Inc. has a 52-week low of $5.75 and a 52-week high of $27.72. The company has a quick ratio of 1.96, a current ratio of 2.81 and a debt-to-equity ratio of 0.08.

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

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

ESIO has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, November 8th. BidaskClub lowered shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. DA Davidson restated a “buy” rating and set a $25.00 price target on shares of Electro Scientific Industries in a research report on Thursday, November 2nd. Lake Street Capital restated a “buy” rating and set a $14.50 price target (up from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. Finally, Needham & Company LLC boosted their price target on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.50.

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Electro Scientific Industries 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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