Electro Scientific Industries, Inc. (ESIO) is a very interesting stock. It trades around $12 per share and has almost $5 per share of cash reserves, representing over 40% of market cap and over 50% of its book value. The company has been struggling to make a net profit in the past quarter, and has lost $1.89 per share in total for the trailing twelve months ending March 31, 2013, burning lots of its reserve cash. As a result of this uncertainty, the company is trading at 8.5x forward earnings after subtracting cash, and is a bargain buy if you believe in the positive turnaround as I do.
The intriguing question now is: Will the company be a turnaround...
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