Electro Scientific Was Priced For A Severe Downturn That Never Happened

We have been amazed with the price decline in Electro Scientific for some time, as we didn’t see the severe downturn that was being priced in.
And as it turns out, the company just keeps on humming along, raking in large amounts of cash flow in the process.
In the meantime, it’s going to enter a bigger market later this year and while success isn’t guaranteed, this can further reduce the cyclical nature of the business.
We still think the shares are too cheap here.

shareholdersunite.com