Electro Scientific Industries, Inc. (ESIO) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Electro Scientific Industries, Inc. (NASDAQ:ESIO) in a research note released on Monday morning.

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

Electro Scientific Industries (NASDAQ:ESIO) opened at 7.09 on Monday. Electro Scientific Industries has a 12 month low of $4.50 and a 12 month high of $7.56. The firm’s market cap is $231.63 million. The stock 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 data on Wednesday, February 1st. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. Electro Scientific Industries had a negative return on equity of 9.75% and a negative net margin of 10.78%. The company earned $33.78 million during the quarter, compared to the consensus estimate of $30 million. During the same period last year, the company earned $0.01 EPS. Electro Scientific Industries’s revenue for the quarter was down 21.9% on a year-over-year basis. Equities research analysts predict that Electro Scientific Industries will post ($0.44) earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in ESIO. Adirondack Research & Management Inc. increased 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 worth $3,067,000 after buying an additional 2,500 shares in the last quarter. Spark Investment Management LLC increased 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 worth $481,000 after buying an additional 66,900 shares in the last quarter. Bank of New York Mellon Corp increased 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 worth $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 worth about $566,000. Finally, Alambic Investment Management L.P. increased 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 worth $231,000 after buying an additional 29,800 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.

5 Day Chart for NASDAQ:ESIO

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