Economy

Electro Scientific Now Sees Higher-than-expected Q3 Results; Stock Climbs

Electro Scientific Now Sees Higher-than-expected Q3 Results; Stock Climbs

Electro Scientific Industries (NASDAQ:ESIO) now expects Q3 revenue in the range of $106M - $111M vs. a consensus of $85M. The systems enable precise engineering and testing of micron to submicron features in semiconductors, LEDs, multi-layer ceramic capacitors (MLCCs), printed circuit boards (PCBs), flex circuits and other high-value components. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Lake Street initiated the shares of ESIO in report on Monday, February 27 with "Buy" rating. The mean target price as estimated by the analysts for the company has been recorded at $26.33.

ESIO has been the topic of a number of other research reports. BidaskClub lowered Electro Scientific Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands. After a recent check, it is observed that the insiders for the firm now own 1.90% shares. This represents a change from the opening price of -0.59%. Zacks upgraded Electro Scientific Industries, Inc. 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 quarterly earnings results on Wednesday, November 1st. For the quarter, shares are performing at 47.32%. The business's revenue was up 139.3% compared to the same quarter previous year.

The consensus recommendation - averaging the work of 3 analysts - of 1.7 for Electro Scientific Industries, Inc. The company's shares were given away at $23.49 per share worth to an income of some $2,818,800 on account of Oldham Paul R.

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On 11/16/2017 Paul R Oldham, CFO, sold 60,000 with an average share price of $24.08 per share and the total transaction amounting to $1,444,800.00. Electro Scientific Industries, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that CFO, Sr. (NASDAQ:ESIO) news were published by: Zacks.com which released: "Why Electro Scientific (ESIO) Could Be Positioned for a Surge November 14, 2017" on November 14, 2017, also Seekingalpha.com with their article: "Electro Scientific Industries' (ESIO) CEO Michael Burger on Q2 2018 Results ..." published on November 02, 2017, Seekingalpha.com published: "Electro Scientific Deserves A Higher Multiple" on August 21, 2017. Following the completion of the transaction, the chief financial officer now directly owns 237,665 shares in the company, valued at approximately $5,582,750.85. The disclosure for this sale can be found here. Corporate insiders own 6.22% of the company's stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Electro Scientific Industries in the 3rd quarter valued at $395,000. Vanguard Group Inc. grew its stake in Electro Scientific Industries by 0.4% in the second quarter.

The stock is up dramatically in the past year, trading between $6.10 and $27.72. Cubist Systematic Strategies LLC acquired a new position in Electro Scientific Industries during the 3rd quarter worth about $379,000.

Institutional investors now hold around $507 million or 88.7% in ESIO stock.


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