Electro Scientific Industries, Inc. (ESIO) Short Interest Update

Electro Scientific Industries, Inc. (NASDAQ:ESIO) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 703,190 shares, a decline of 18.6% from the April 28th total of 863,347 shares. Based on an average daily volume of 245,019 shares, the short-interest ratio is presently 2.9 days.

Electro Scientific Industries (ESIO) opened at 8.24 on Friday. The stock has a 50 day moving average price of $8.06 and a 200 day moving average price of $6.81. The stock’s market cap is $274.05 million. Electro Scientific Industries has a 12-month low of $4.50 and a 12-month high of $9.20.

Electro Scientific Industries (NASDAQ:ESIO) last announced its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.28. Electro Scientific Industries had a negative net margin of 23.23% and a negative return on equity of 23.01%. The business had revenue of $49.90 million during the quarter, compared to the consensus estimate of $42.67 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Electro Scientific Industries will post $0.15 earnings per share for the current fiscal year.

Several research analysts have recently commented on ESIO shares. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price objective (up previously from $7.50) on shares of Electro Scientific Industries in a report on Wednesday, May 10th. TheStreet upgraded Electro Scientific Industries from a “d+” rating to a “c-” rating in a report on Friday, February 24th. Finally, ValuEngine upgraded Electro Scientific Industries from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.00.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its position in shares of Electro Scientific Industries by 2.4% in the first quarter. Arizona State Retirement System now owns 17,065 shares of the semiconductor company’s stock worth $119,000 after buying an additional 400 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Electro Scientific Industries by 11.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,930 shares of the semiconductor company’s stock worth $106,000 after buying an additional 1,820 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Electro Scientific Industries by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 18,260 shares of the semiconductor company’s stock worth $127,000 after buying an additional 330 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Electro Scientific Industries by 2.5% in the first quarter. Baird Financial Group Inc. now owns 23,854 shares of the semiconductor company’s stock worth $166,000 after buying an additional 580 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Electro Scientific Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 25,330 shares of the semiconductor company’s stock worth $177,000 after buying an additional 3,823 shares during the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.

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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.

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