Electro Scientific Industries, Inc. (NASDAQ:ESIO) had its price objective boosted by Needham & Company LLC from $12.00 to $27.00 in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on ESIO. Zacks Investment Research cut Electro Scientific Industries from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Lake Street Capital reaffirmed a buy rating and set a $14.50 price objective (up from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. BidaskClub raised Electro Scientific Industries from a hold rating to a buy rating in a research report on Wednesday, August 9th. ValuEngine raised Electro Scientific Industries from a sell rating to a hold rating in a research report on Thursday, August 3rd. Finally, DA Davidson reaffirmed a buy rating and set a $25.00 price objective on shares of Electro Scientific Industries in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $21.50.

Electro Scientific Industries (NASDAQ ESIO) traded up $0.97 during trading hours on Thursday, hitting $22.03. The stock had a trading volume of 2,920,360 shares, compared to its average volume of 827,619. Electro Scientific Industries has a twelve month low of $4.60 and a twelve month high of $22.96. The company has a quick ratio of 2.00, a current ratio of 2.81 and a debt-to-equity ratio of 0.08.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 13.50% and a negative net margin of 9.00%. The business’s quarterly revenue was up 139.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) EPS. research analysts forecast that Electro Scientific Industries will post 0.28 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.watchlistnews.com/needham-company-llc-raises-electro-scientific-industries-inc-esio-price-target-to-27-00/1680990.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in shares of Electro Scientific Industries by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System boosted its position in shares of Electro Scientific Industries by 2.4% in the 1st quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 400 shares during the period. Trexquant Investment LP acquired a new stake in shares of Electro Scientific Industries in the 2nd quarter valued at about $124,000. Thrivent Financial For Lutherans boosted its position in shares of Electro Scientific Industries by 1.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 330 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Electro Scientific Industries in the 2nd quarter valued at about $138,000. 73.09% 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.

Receive News & Ratings for Electro Scientific Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electro Scientific Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.