Brokerages expect EMCORE Co. (NASDAQ:EMKR) to post earnings per share (EPS) of $0.11 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for EMCORE’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.11. EMCORE reported earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year-over-year growth rate of 1,200%. The firm is expected to announce its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that EMCORE will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.43 to $0.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for EMCORE.
EMCORE (NASDAQ:EMKR) last announced its earnings results on Thursday, May 4th. The semiconductor company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $32.60 million for the quarter, compared to analysts’ expectations of $30.23 million. EMCORE had a return on equity of 3.84% and a net margin of 9.06%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Several research analysts have issued reports on the stock. B. Riley restated a “buy” rating and issued a $12.00 price target on shares of EMCORE in a research report on Wednesday, May 10th. Zacks Investment Research upgraded shares of EMCORE from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Friday, April 7th. Lake Street Capital lifted their price objective on shares of EMCORE from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Finally, Dougherty & Co lifted their price objective on shares of EMCORE from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $11.38.
Shares of EMCORE (NASDAQ:EMKR) traded down 4.59% during midday trading on Wednesday, reaching $10.40. The company’s stock had a trading volume of 125,447 shares. EMCORE has a 12 month low of $4.90 and a 12 month high of $11.00. The stock has a market capitalization of $279.00 million, a PE ratio of 41.60 and a beta of 0.73. The stock’s 50 day moving average is $9.16 and its 200 day moving average is $8.59. In other EMCORE news, CEO Jeffrey Rittichier sold 10,000 shares of EMCORE stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the transaction, the chief executive officer now directly owns 196,185 shares in the company, valued at approximately $1,981,468.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.77% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Ellington Management Group LLC purchased a new position in EMCORE during the fourth quarter valued at $117,000. Campbell & CO Investment Adviser LLC purchased a new position in EMCORE during the first quarter valued at $124,000. Kempner Capital Management Inc. boosted its position in EMCORE by 20.0% in the first quarter. Kempner Capital Management Inc. now owns 15,000 shares of the semiconductor company’s stock valued at $135,000 after buying an additional 2,500 shares during the last quarter. American International Group Inc. boosted its position in EMCORE by 7.1% in the first quarter. American International Group Inc. now owns 16,093 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 1,063 shares during the last quarter. Finally, Bard Associates Inc. boosted its position in EMCORE by 2.9% in the first quarter. Bard Associates Inc. now owns 17,500 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.52% of the company’s stock. EMCORE Company Profile
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
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