Electro Scientific Industries, Inc. (NASDAQ:ESIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Electro Scientific Industries, Inc. supplies laser-based microfabrication solutions for the microtechnology industry. It provides printed circuit boards, including laser via drilling systems for electrical interconnect applications; micro via drilling technology that addresses the changing applications in integrated circuit packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems comprising single-beam and multi-beam systems. In addition, the company provides component test products that combine high-speed small parts handling technology with real-time control systems to provide inspection solutions for manufacturers of multilayer ceramic capacitors and other passive components, such as capacitor arrays, inductors, resistors, varistors, and hybrid circuits. The company sells its products through direct sales and service offices, value-added resellers, and independent representatives. “

ESIO has been the subject of several other research reports. Needham & Company LLC upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, August 3rd. ValuEngine upgraded shares of Electro Scientific Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Lake Street Capital reduced their price objective on shares of Electro Scientific Industries from $10.50 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.83.

Electro Scientific Industries (ESIO) traded up 1.15% on Tuesday, hitting $14.97. 190,952 shares of the company traded hands. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $15.11. The stock’s market cap is $496.05 million. The stock’s 50-day moving average is $12.61 and its 200 day moving average is $9.18.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The firm had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same quarter last year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. Equities research analysts expect that Electro Scientific Industries will post $0.73 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Electro Scientific Industries by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,572,379 shares of the semiconductor company’s stock worth $21,196,000 after acquiring an additional 58,941 shares during the last quarter. Vanguard Group Inc. raised its position in Electro Scientific Industries by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,622,345 shares of the semiconductor company’s stock worth $13,368,000 after acquiring an additional 6,881 shares during the last quarter. Divisar Capital Management LLC raised 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 worth $12,770,000 after acquiring an additional 112,319 shares during the last quarter. State Street Corp raised its position in Electro Scientific Industries by 13.4% during the second quarter. State Street Corp now owns 595,910 shares of the semiconductor company’s stock worth $4,911,000 after acquiring an additional 70,197 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Electro Scientific Industries by 6.1% during the second quarter. Ameriprise Financial Inc. now owns 544,483 shares of the semiconductor company’s stock worth $4,486,000 after acquiring an additional 31,140 shares during the last quarter. Institutional investors own 73.16% of the company’s stock.

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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