EMCORE (EMKR) Releases Earnings Results, Misses Expectations By $0.03 EPS

EMCORE (NASDAQ:EMKR) released its earnings results on Tuesday. The semiconductor company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03), Bloomberg Earnings reports. The firm had revenue of $24.04 million during the quarter, compared to analyst estimates of $24.75 million. EMCORE had a net margin of 5.48% and a return on equity of 6.64%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share.

Shares of EMCORE (NASDAQ:EMKR) traded down $0.35 on Thursday, hitting $5.00. The stock had a trading volume of 796,674 shares, compared to its average volume of 295,332. The stock has a market cap of $152.32, a PE ratio of 20.83, a PEG ratio of 1.27 and a beta of 0.14. EMCORE has a fifty-two week low of $4.90 and a fifty-two week high of $12.20.

In other news, CEO Jeffrey Rittichier sold 49,422 shares of EMCORE stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the transaction, the chief executive officer now owns 366,007 shares in the company, valued at approximately $2,580,349.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

EMKR has been the subject of several research reports. Northland Securities set a $13.00 target price on EMCORE and gave the company a “buy” rating in a research report on Monday, October 16th. B. Riley reaffirmed a “neutral” rating and issued a $8.75 target price (down from $10.50) on shares of EMCORE in a research report on Friday, December 1st. Finally, Lake Street Capital reaffirmed a “buy” rating and issued 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 assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.00.

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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.

Earnings History for EMCORE (NASDAQ:EMKR)

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