The Needham & Company LLC Reiterates “Hold” Rating for Electro Scientific Industries, Inc. (ESIO), Report finds

The Needham & Company LLC Reiterates “Hold” Rating for Electro Scientific Industries, Inc. (ESIO), Report finds

ESIO has been the topic of several other reports. Zacks Investment Research downgraded shares of Electro Scientific Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. TheStreet downgraded shares of Electro Scientific Industries from a “hold” rating to a “sell” rating in a research note on Friday, November 4th.

Electro Scientific Industries, Inc. (NASDAQ:ESIO)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a report issued on Monday.

Electro Scientific Industries (NASDAQ:ESIO) opened at 7.0781 on Monday. The firm’s market cap is $231.24 million. Electro Scientific Industries has a 1-year low of $4.50 and a 1-year high of $7.56. The firm has a 50-day moving average of $6.36 and a 200 day moving average of $5.75.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Wednesday, February 1st. The company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. Electro Scientific Industries had a negative net margin of 10.78% and a negative return on equity of 9.75%. The business had revenue of $33.78 million for the quarter, compared to the consensus estimate of $30 million. During the same period in the prior year, the company posted $0.01 earnings per share. Electro Scientific Industries’s revenue was down 21.9% compared to the same quarter last year. Analysts expect that Electro Scientific Industries will post ($0.44) earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Adirondack Research & Management Inc. boosted its stake in Electro Scientific Industries by 0.5% in the third quarter. Adirondack Research & Management Inc. now owns 543,744 shares of the company’s stock valued at $3,067,000 after buying an additional 2,500 shares in the last quarter. Spark Investment Management LLC boosted its stake in Electro Scientific Industries by 363.6% in the third quarter. Spark Investment Management LLC now owns 85,300 shares of the company’s stock valued at $481,000 after buying an additional 66,900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Electro Scientific Industries by 21.1% in the third quarter. Bank of New York Mellon Corp now owns 607,604 shares of the company’s stock valued at $3,427,000 after buying an additional 106,003 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Electro Scientific Industries during the third quarter valued at $566,000. Finally, Alambic Investment Management L.P. boosted its stake in Electro Scientific Industries by 266.1% in the third quarter. Alambic Investment Management L.P. now owns 41,000 shares of the company’s stock valued at $231,000 after buying an additional 29,800 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Electro Scientific Industries Company Profile

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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