Electro Scientific Industries (ESIO) Downgraded by ValuEngine

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Electro Scientific Industries (NASDAQ:ESIO) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

ESIO has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Electro Scientific Industries from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th. BidaskClub downgraded shares of Electro Scientific Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.40.

Shares of ESIO opened at $18.99 on Friday. Electro Scientific Industries has a twelve month low of $11.85 and a twelve month high of $27.72. The firm has a market capitalization of $749.33 million, a PE ratio of 7.09, a PEG ratio of 0.89 and a beta of 1.10. The company has a current ratio of 4.22, a quick ratio of 2.94 and a debt-to-equity ratio of 0.04.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.11. The business had revenue of $110.62 million for the quarter, compared to analyst estimates of $104.64 million. Electro Scientific Industries had a net margin of 35.60% and a return on equity of 47.09%. The company’s revenue was up 52.2% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. equities analysts expect that Electro Scientific Industries will post 2.06 EPS for the current year.

In related news, Director Raymond A. Link sold 6,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $23.01, for a total value of $138,060.00. Following the transaction, the director now directly owns 73,643 shares of the company’s stock, valued at approximately $1,694,525.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.53% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Electro Scientific Industries by 8.5% in the 2nd quarter. BlackRock Inc. now owns 4,765,147 shares of the semiconductor company’s stock valued at $75,146,000 after buying an additional 372,084 shares during the last quarter. Renaissance Technologies LLC grew its position in Electro Scientific Industries by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,808,720 shares of the semiconductor company’s stock worth $28,524,000 after purchasing an additional 60,020 shares during the last quarter. Royce & Associates LP grew its position in Electro Scientific Industries by 124.1% during the 2nd quarter. Royce & Associates LP now owns 1,734,985 shares of the semiconductor company’s stock worth $27,361,000 after purchasing an additional 960,784 shares during the last quarter. Divisar Capital Management LLC grew its position in Electro Scientific Industries by 13.9% during the 2nd quarter. Divisar Capital Management LLC now owns 780,167 shares of the semiconductor company’s stock worth $12,303,000 after purchasing an additional 95,000 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in Electro Scientific Industries during the 1st quarter worth $13,564,000. 89.49% of the stock is currently owned by hedge funds and other institutional investors.

About Electro Scientific Industries

Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. The company provides printed circuit board laser drilling products, including laser via drilling systems for electrical interconnect applications that require dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards, and interconnect packages; micro via drilling technology that addresses the changing applications in interconnect packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems that employ technology in lasers, optics, and motion control.

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