EMCORE Co. (NASDAQ:EMKR) – Equities research analysts at B. Riley issued their Q2 2018 earnings per share estimates for EMCORE in a note issued to investors on Tuesday, April 10th, according to Zacks Investment Research. B. Riley analyst D. Kang expects that the semiconductor company will post earnings per share of ($0.06) for the quarter. B. Riley has a “Neutral” rating and a $5.75 price target on the stock. B. Riley also issued estimates for EMCORE’s Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.02) EPS and FY2018 earnings at ($0.13) EPS.
EMKR has been the topic of a number of other research reports. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. TheStreet lowered EMCORE from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. ValuEngine lowered EMCORE from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Northland Securities raised EMCORE from a “market perform” rating to an “outperform” rating in a report on Monday, March 19th. Finally, Lake Street Capital decreased their target price on EMCORE from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. 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. EMCORE presently has an average rating of “Hold” and an average price target of $6.25.
Shares of EMCORE stock traded up $0.02 on Friday, reaching $4.67. 9,323 shares of the company were exchanged, compared to its average volume of 254,963. EMCORE has a one year low of $4.60 and a one year high of $12.20. The stock has a market cap of $127.84, a P/E ratio of 11.92 and a beta of 0.32.
EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). EMCORE had a return on equity of 6.59% and a net margin of 5.48%. The company had revenue of $24.04 million for the quarter, compared to the consensus estimate of $24.75 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC increased its holdings in shares of EMCORE by 130.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 14,499 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in EMCORE in the 4th quarter valued at $125,000. Stone Ridge Asset Management LLC acquired a new position in EMCORE in the 4th quarter valued at $175,000. Connors Investor Services Inc. grew its holdings in EMCORE by 47.2% in the 4th quarter. Connors Investor Services Inc. now owns 31,193 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 10,000 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in EMCORE in the 3rd quarter valued at $220,000. 79.12% of the stock is currently owned by institutional investors and hedge funds.
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EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.
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