BidaskClub upgraded shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other analysts have also recently issued reports on the company. ValuEngine upgraded Electro Scientific Industries from a sell rating to a hold rating in a research report on Friday, June 2nd. Lake Street Capital restated a buy rating and set a $9.00 price objective (up from $7.50) on shares of Electro Scientific Industries in a research report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $9.00.

Electro Scientific Industries (ESIO) traded down 0.46% during trading on Tuesday, hitting $8.67. The stock had a trading volume of 77,917 shares. The company’s 50-day moving average is $8.49 and its 200 day moving average is $7.37. The firm’s market cap is $287.00 million. Electro Scientific Industries has a 52 week low of $4.50 and a 52 week high of $9.20.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.28. The firm had revenue of $49.90 million for the quarter, compared to the consensus estimate of $42.67 million. Electro Scientific Industries had a negative net margin of 23.23% and a negative return on equity of 23.01%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities analysts expect that Electro Scientific Industries will post $0.15 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in ESIO. Dimensional Fund Advisors LP raised its stake in shares of Electro Scientific Industries by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,513,438 shares of the semiconductor company’s stock valued at $17,518,000 after buying an additional 91,565 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Electro Scientific Industries by 12.0% in the first quarter. Vanguard Group Inc. now owns 1,615,464 shares of the semiconductor company’s stock valued at $11,260,000 after buying an additional 172,926 shares in the last quarter. Divisar Capital Management LLC raised its stake in shares of Electro Scientific Industries by 24.1% in the first quarter. Divisar Capital Management LLC now owns 1,437,488 shares of the semiconductor company’s stock valued at $10,019,000 after buying an additional 278,813 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Electro Scientific Industries by 7.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,326,637 shares of the semiconductor company’s stock valued at $7,854,000 after buying an additional 87,237 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Electro Scientific Industries by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 513,343 shares of the semiconductor company’s stock valued at $3,578,000 after buying an additional 8,690 shares in the last quarter. 73.26% of the stock is currently owned by institutional investors and hedge funds.

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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