Electro Scientific Industries, Inc. (ESIO) Upgraded to “Buy” by Zacks Investment Research
Electro Scientific Industries, Inc. (NASDAQ:ESIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $27.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.21% from the company’s previous close.
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. “
ESIO has been the subject of several other reports. Lake Street Capital reaffirmed a “buy” rating and issued a $14.50 target price (up from $10.50) on shares of Electro Scientific Industries in a report on Monday, September 18th. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Electro Scientific Industries in a report on Thursday, November 2nd. Needham & Company LLC boosted their price objective on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. BidaskClub raised shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, ValuEngine raised shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Electro Scientific Industries currently has an average rating of “Buy” and an average price target of $25.25.
Shares of Electro Scientific Industries (NASDAQ ESIO) traded up $0.08 during trading on Wednesday, reaching $23.85. 1,154,184 shares of the company’s stock traded hands, compared to its average volume of 1,036,501. 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 twelve month low of $4.61 and a twelve month high of $23.77.
Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.12. The business had revenue of $70.97 million during 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 business’s revenue for the quarter was up 139.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) earnings per share. research analysts predict that Electro Scientific Industries will post 0.28 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ESIO. EAM Investors LLC raised its holdings in shares of Electro Scientific Industries by 276.7% during the third quarter. EAM Investors LLC now owns 271,777 shares of the semiconductor company’s stock valued at $3,783,000 after purchasing an additional 199,637 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Electro Scientific Industries by 12.0% during the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock valued at $11,260,000 after purchasing an additional 172,926 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Electro Scientific Industries during the third quarter valued at approximately $1,758,000. Wells Fargo & Company MN raised its holdings in shares of Electro Scientific Industries by 88.1% during the second quarter. Wells Fargo & Company MN now owns 249,363 shares of the semiconductor company’s stock valued at $2,056,000 after purchasing an additional 116,824 shares during the last quarter. Finally, Divisar Capital Management LLC grew its position in Electro Scientific Industries by 7.8% during the second quarter. Divisar Capital Management LLC now owns 1,549,807 shares of the semiconductor company’s stock valued at $12,770,000 after buying an additional 112,319 shares during the period. 72.88% of the stock is owned by hedge funds and other institutional investors.
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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