Electro Scientific Industries, Inc. (NASDAQ:ESIO)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.07 and last traded at $11.07, with a volume of 271,408 shares changing hands. The stock had previously closed at $10.55.

Several equities analysts have issued reports on the company. BidaskClub raised Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, August 8th. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, August 3rd. Finally, Lake Street Capital lowered their target price on Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. 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 presently has a consensus rating of “Buy” and a consensus target price of $11.00.

The firm has a 50-day moving average price of $8.92 and a 200 day moving average price of $7.62. The stock’s market cap is $367.10 million.

Electro Scientific Industries (NASDAQ:ESIO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.20. The company had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. Electro Scientific Industries had a negative return on equity of 22.18% and a negative net margin of 18.49%. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts predict that Electro Scientific Industries, Inc. will post $0.72 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position 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 last quarter. Kirr Marbach & Co. LLC IN boosted its position in Electro Scientific Industries by 1.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 44,350 shares of the semiconductor company’s stock worth $309,000 after buying an additional 550 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in Electro Scientific Industries by 31.5% in the first quarter. Essex Investment Management Co. LLC now owns 147,151 shares of the semiconductor company’s stock worth $1,026,000 after buying an additional 35,207 shares during the last quarter. Wells Fargo & Company MN boosted its position in Electro Scientific Industries by 97.9% in the first quarter. Wells Fargo & Company MN now owns 132,539 shares of the semiconductor company’s stock worth $924,000 after buying an additional 65,554 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in Electro Scientific Industries by 1.7% in the first quarter. Tocqueville Asset Management L.P. now owns 415,092 shares of the semiconductor company’s stock worth $2,893,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

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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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