EMCORE Corporation (EMKR) Receives $11.88 Average PT from Analysts
Shares of EMCORE Corporation (NASDAQ:EMKR) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.88.
Several research analysts have commented on EMKR shares. BidaskClub upgraded EMCORE Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Northland Securities set a $13.00 target price on EMCORE Corporation and gave the stock a “buy” rating in a research note on Monday, October 16th. Zacks Investment Research downgraded EMCORE Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, B. Riley restated a “neutral” rating and issued a $10.50 target price on shares of EMCORE Corporation in a research note on Wednesday, August 9th.
EMCORE Corporation (EMKR) traded down 1.18% on Friday, reaching $8.35. The company had a trading volume of 116,293 shares. The stock’s 50-day moving average price is $8.62 and its 200-day moving average price is $9.70. EMCORE Corporation has a 12-month low of $5.65 and a 12-month high of $12.20. The stock has a market capitalization of $224.44 million, a P/E ratio of 29.09 and a beta of 0.61.
EMCORE Corporation (NASDAQ:EMKR) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. EMCORE Corporation had a return on equity of 9.25% and a net margin of 6.73%. The business had revenue of $30.95 million during the quarter, compared to the consensus estimate of $30.04 million. The company’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts anticipate that EMCORE Corporation will post $0.53 EPS for the current fiscal year.
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In other EMCORE Corporation news, CEO Jeffrey Rittichier sold 9,189 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.45, for a total value of $77,647.05. Following the sale, the chief executive officer now owns 288,505 shares of the company’s stock, valued at approximately $2,437,867.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the business. Northpointe Capital LLC raised its holdings in shares of EMCORE Corporation by 72.3% in the 3rd quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after acquiring an additional 217,358 shares in the last quarter. P.A.W. Capital Corp raised its holdings in shares of EMCORE Corporation by 56.1% in the 3rd quarter. P.A.W. Capital Corp now owns 320,000 shares of the semiconductor company’s stock valued at $2,624,000 after acquiring an additional 115,000 shares in the last quarter. Navellier & Associates Inc purchased a new stake in shares of EMCORE Corporation in the 2nd quarter valued at about $244,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of EMCORE Corporation in the 2nd quarter valued at about $560,000. Finally, Argent Capital Management LLC raised its holdings in shares of EMCORE Corporation by 25.7% in the 2nd quarter. Argent Capital Management LLC now owns 454,750 shares of the semiconductor company’s stock valued at $4,843,000 after acquiring an additional 93,100 shares in the last quarter. 76.12% of the stock is currently owned by hedge funds and other institutional investors.
About EMCORE Corporation
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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