EMCORE Co. (NASDAQ:EMKR) CEO Jeffrey Rittichier sold 49,422 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the sale, the chief executive officer now directly owns 366,007 shares of the company’s stock, valued at approximately $2,580,349.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Jeffrey Rittichier also recently made the following trade(s):
- On Thursday, October 19th, Jeffrey Rittichier sold 9,189 shares of EMCORE stock. The stock was sold at an average price of $8.45, for a total value of $77,647.05.
Shares of EMCORE Co. (EMKR) traded down $0.15 during midday trading on Wednesday, hitting $6.75. The company had a trading volume of 183,109 shares, compared to its average volume of 242,367. EMCORE Co. has a twelve month low of $5.80 and a twelve month high of $12.20. The firm has a market capitalization of $185.47, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44.
EMCORE (NASDAQ:EMKR) last announced its quarterly earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $29.20 million during the quarter, compared to the consensus estimate of $30.29 million. EMCORE had a net margin of 6.70% and a return on equity of 9.30%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. sell-side analysts forecast that EMCORE Co. will post 0.37 EPS for the current fiscal year.
Several research firms recently weighed in on EMKR. Northland Securities lowered EMCORE from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. B. Riley cut their price target on EMCORE from $8.50 to $7.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Finally, Lake Street Capital reiterated a “buy” rating and set a $10.00 price target on shares of EMCORE in a report on Wednesday, December 6th. One investment 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 stock has an average rating of “Hold” and a consensus price target of $9.13.
Hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC grew its holdings in shares of EMCORE by 25.7% during the second quarter. Argent Capital Management LLC now owns 454,750 shares of the semiconductor company’s stock worth $4,843,000 after purchasing an additional 93,100 shares during the last quarter. Northpointe Capital LLC boosted its holdings in EMCORE by 72.3% in the third 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 during the last quarter. RK Capital Management LLC boosted its holdings in EMCORE by 40.1% in the second quarter. RK Capital Management LLC now owns 1,037,938 shares of the semiconductor company’s stock valued at $11,054,000 after acquiring an additional 296,840 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in EMCORE by 13.5% in the third quarter. Paradigm Capital Management Inc. NY now owns 2,312,800 shares of the semiconductor company’s stock valued at $18,965,000 after acquiring an additional 274,700 shares during the last quarter. Finally, Unterberg Capital LLC boosted its holdings in EMCORE by 79.2% in the third quarter. Unterberg Capital LLC now owns 430,000 shares of the semiconductor company’s stock valued at $3,526,000 after acquiring an additional 190,000 shares during the last quarter. Institutional investors own 75.45% 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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