Electro Scientific Industries (ESIO) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $8 . Needham advised their investors in a research report released on May 11, 2016.
On the company’s financial health, Electro Scientific Industries reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.05. The company had revenue of $51.50 million for the quarter, compared to analysts expectations of $49.75 million. The company’s revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.
Electro Scientific Industries closed down -0.19 points or -2.67% at $6.93 with 1,49,682 shares getting traded on Tuesday. Post opening the session at $7.11, the shares hit an intraday low of $6.92 and an intraday high of $7.11 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Mar 1, 2016, John K Medica (director) purchased 1,845 shares at $7.05 per share price. According to the SEC, on Dec 3, 2015, Kerry L Mustoe (VP, Corporate Controller & CAO) sold 3,498 shares at $5.07 per share price. On Nov 25, 2015, Raymond A Link (director) purchased 4,000 shares at $5.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Electro Scientific Industries Inc. is a supplier of laser-based manufacturing solutions for the micro technology industry. The Company operates in two segments Component Processing and Micromachining. Its Component Processing segment includes interconnect products semiconductor products and component products. Interconnect semiconductor and component products are sold to manufacturers of electronic components and are used to drill cut trim ablate and test. The Company’s micromachining products are sold to manufacturers of end devices across multiple industries and are used to drill cut or mark features on a range of materials generally on the casing or external surface of the end device. The Company’s integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials.