Electro Scientific Industries, Inc. (ESIO) Stake Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) by 29.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,985 shares of the semiconductor company’s stock after acquiring an additional 72,622 shares during the period. Wells Fargo & Company MN owned 0.96% of Electro Scientific Industries worth $4,481,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ESIO. JPMorgan Chase & Co. purchased a new position in shares of Electro Scientific Industries during the 3rd quarter worth about $109,000. Virtu KCG Holdings LLC purchased a new position in shares of Electro Scientific Industries during the 2nd quarter worth about $138,000. Arizona State Retirement System lifted its holdings in shares of Electro Scientific Industries by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 17,365 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 300 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Electro Scientific Industries during the 2nd quarter worth about $160,000. Finally, PDT Partners LLC lifted its holdings in shares of Electro Scientific Industries by 2.2% during the 2nd quarter. PDT Partners LLC now owns 19,631 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 431 shares during the period. Institutional investors and hedge funds own 75.30% of the company’s stock.

Shares of Electro Scientific Industries, Inc. (NASDAQ ESIO) opened at $20.32 on Friday. The stock has a market cap of $673.34, a P/E ratio of -32.25, a P/E/G ratio of 1.66 and a beta of 0.75. Electro Scientific Industries, Inc. has a 1 year low of $5.92 and a 1 year high of $27.72. The company has a current ratio of 2.81, a quick ratio of 1.96 and a debt-to-equity ratio of 0.08.

Electro Scientific Industries (NASDAQ:ESIO) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.12. The firm had revenue of $70.97 million during the quarter, compared to the consensus estimate of $65.53 million. Electro Scientific Industries had a negative net margin of 9.00% and a negative return on equity of 13.50%. The company’s revenue was up 139.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. analysts expect that Electro Scientific Industries, Inc. will post 1.14 earnings per share for the current year.

In related news, CFO Paul R. Oldham sold 120,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $23.49, for a total transaction of $2,818,800.00. Following the completion of the sale, the chief financial officer now owns 237,665 shares of the company’s stock, valued at approximately $5,582,750.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul R. Oldham sold 60,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $24.08, for a total transaction of $1,444,800.00. Following the sale, the chief financial officer now directly owns 287,665 shares of the company’s stock, valued at approximately $6,926,973.20. The disclosure for this sale can be found here. 6.22% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on ESIO shares. Zacks Investment Research upgraded shares of Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, December 22nd. BidaskClub lowered shares of Electro Scientific Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. DA Davidson reiterated a “buy” rating and set a $25.00 price objective on shares of Electro Scientific Industries in a report on Thursday, November 2nd. Lake Street Capital reissued a “buy” rating and set a $14.50 target price (up previously from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. Finally, Needham & Company LLC increased their target price on shares of Electro Scientific Industries from $12.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $26.00.

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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.

Institutional Ownership by Quarter for Electro Scientific Industries (NASDAQ:ESIO)

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