EMCORE Corporation (NASDAQ:EMKR) – Stock analysts at B. Riley issued their Q1 2018 EPS estimates for EMCORE in a note issued to investors on Wednesday. B. Riley analyst D. Kang forecasts that the semiconductor company will post earnings per share of $0.06 for the quarter. B. Riley has a “Neutral” rating and a $7.00 price target on the stock. B. Riley also issued estimates for EMCORE’s Q2 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.11 EPS and FY2018 earnings at $0.33 EPS.
Other equities research analysts also recently issued research reports about the company. Northland Securities downgraded EMCORE from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 5th. Lake Street Capital restated a “buy” rating and set a $10.00 target price on shares of EMCORE in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.13.
EMCORE (NASDAQ:EMKR) last released its earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). EMCORE had a net margin of 6.70% and a return on equity of 9.30%. The business had revenue of $29.20 million during the quarter, compared to the consensus estimate of $30.29 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis.
Large investors have recently made changes to their positions in the company. Gotham Asset Management LLC bought a new position in shares of EMCORE during the second quarter valued at about $111,000. Voya Investment Management LLC purchased a new stake in shares of EMCORE during the second quarter worth about $112,000. Highbridge Capital Management LLC boosted its holdings in shares of EMCORE by 130.9% during the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 14,499 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of EMCORE during the third quarter worth about $151,000. Finally, Cavalier Investments LLC purchased a new stake in shares of EMCORE during the third quarter worth about $164,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Jeffrey Rittichier sold 9,189 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.45, for a total value of $77,647.05. Following the transaction, the chief executive officer now owns 288,505 shares of the company’s stock, valued at $2,437,867.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
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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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