Short Interest in Electro Scientific Industries, Inc. (ESIO) Drops By 20.2%

Electro Scientific Industries, Inc. (NASDAQ:ESIO) saw a significant decrease in short interest in August. As of August 15th, there was short interest totalling 5,533,362 shares, a decrease of 20.2% from the July 31st total of 6,935,270 shares. Currently, 16.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,257,355 shares, the days-to-cover ratio is currently 4.4 days.

ESIO has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. ValuEngine lowered shares of Electro Scientific Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Stifel Nicolaus upped their price objective on shares of Electro Scientific Industries from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. Finally, BidaskClub raised shares of Electro Scientific Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.40.

In other Electro Scientific Industries news, Director Raymond A. Link sold 6,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $23.01, for a total transaction of $138,060.00. Following the completion of the sale, the director now directly owns 73,643 shares of the company’s stock, valued at $1,694,525.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.53% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of ESIO. Royce & Associates LP increased its holdings in shares of Electro Scientific Industries by 124.1% in the 2nd quarter. Royce & Associates LP now owns 1,734,985 shares of the semiconductor company’s stock valued at $27,361,000 after purchasing an additional 960,784 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Electro Scientific Industries in the 1st quarter valued at about $13,564,000. BlackRock Inc. increased its holdings in shares of Electro Scientific Industries by 8.5% in the 2nd quarter. BlackRock Inc. now owns 4,765,147 shares of the semiconductor company’s stock valued at $75,146,000 after purchasing an additional 372,084 shares during the period. Systematic Financial Management LP increased its holdings in shares of Electro Scientific Industries by 207.1% in the 2nd quarter. Systematic Financial Management LP now owns 340,230 shares of the semiconductor company’s stock valued at $5,365,000 after purchasing an additional 229,435 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Electro Scientific Industries by 149.2% in the 1st quarter. American Century Companies Inc. now owns 318,990 shares of the semiconductor company’s stock valued at $6,166,000 after purchasing an additional 190,959 shares during the period. Institutional investors own 89.49% of the company’s stock.

Shares of ESIO opened at $22.44 on Tuesday. The stock has a market capitalization of $781.08 million, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.93 and a beta of 1.02. Electro Scientific Industries has a fifty-two week low of $11.81 and a fifty-two week high of $27.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.94 and a current ratio of 4.22.

Electro Scientific Industries (NASDAQ:ESIO) last issued its earnings results on Wednesday, August 1st. The semiconductor company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. The company had revenue of $110.62 million for the quarter, compared to the consensus estimate of $104.64 million. Electro Scientific Industries had a return on equity of 47.09% and a net margin of 35.60%. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. sell-side analysts expect that Electro Scientific Industries will post 2.06 EPS for the current fiscal year.

About Electro Scientific Industries

Electro Scientific Industries, Inc, together with its subsidiaries, supplies laser-based microfabrication solutions for the microtechnology industry worldwide. The company provides printed circuit board laser drilling products, including laser via drilling systems for electrical interconnect applications that require dimensions to create electrical connections between layers in flexible circuits, high-density circuit boards, and interconnect packages; micro via drilling technology that addresses the changing applications in interconnect packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems that employ technology in lasers, optics, and motion control.

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