EMCORE Corporation (NASDAQ:EMKR) received a $13.00 price objective from equities research analysts at Northland Securities in a research report issued on Monday, October 16th. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Northland Securities’ target price suggests a potential upside of 64.56% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. B. Riley cut shares of EMCORE Corporation from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Thursday, June 29th. Zacks Investment Research cut shares of EMCORE Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, BidaskClub raised shares of EMCORE Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.88.
EMCORE Corporation (EMKR) opened at 7.90 on Monday. EMCORE Corporation has a one year low of $5.95 and a one year high of $12.20. The stock’s 50 day moving average is $8.52 and its 200 day moving average is $9.69. The firm has a market cap of $212.34 million, a price-to-earnings ratio of 27.53 and a beta of 0.61.
EMCORE Corporation (NASDAQ:EMKR) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $30.95 million during the quarter, compared to analyst estimates of $30.04 million. EMCORE Corporation had a net margin of 6.73% and a return on equity of 9.25%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, analysts predict that EMCORE Corporation will post $0.53 earnings per share for the current fiscal year.
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In other news, CEO Jeffrey Rittichier sold 9,189 shares of EMCORE Corporation stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.45, for a total transaction of $77,647.05. Following the transaction, the chief executive officer now owns 288,505 shares in the company, valued at approximately $2,437,867.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Gotham Asset Management LLC purchased a new position in shares of EMCORE Corporation during the 2nd quarter worth $111,000. Voya Investment Management LLC purchased a new position in shares of EMCORE Corporation during the 2nd quarter worth $112,000. Campbell & CO Investment Adviser LLC raised its holdings in shares of EMCORE Corporation by 6.4% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 14,645 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 878 shares during the period. American International Group Inc. raised its holdings in shares of EMCORE Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 16,093 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,063 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of EMCORE Corporation by 2.5% during the 2nd quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 466 shares during the period. Institutional investors and hedge funds own 76.07% of the company’s stock.
EMCORE Corporation 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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