EMCORE (EMKR) Issues Earnings Results, Misses Estimates By $0.05 EPS

EMCORE (NASDAQ:EMKR) released its quarterly earnings data on Tuesday. The semiconductor company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.05), Bloomberg Earnings reports. The company had revenue of $25.24 million for the quarter, compared to analysts’ expectations of $24.71 million. EMCORE had a negative net margin of 20.39% and a negative return on equity of 12.62%. EMCORE updated its Q1 2019 guidance to EPS.

NASDAQ EMKR opened at $4.86 on Thursday. The stock has a market cap of $133.62 million, a price-to-earnings ratio of -9.17 and a beta of 0.03. EMCORE has a fifty-two week low of $4.28 and a fifty-two week high of $7.25.

A number of research firms have weighed in on EMKR. ValuEngine upgraded EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research lowered EMCORE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 8th. B. Riley lowered EMCORE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $5.75 in a research note on Friday, November 9th. Lake Street Capital set a $6.00 price objective on EMCORE and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Northland Securities upgraded EMCORE from a “market perform” rating to an “outperform” rating in a research note on Friday, October 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. EMCORE presently has a consensus rating of “Hold” and a consensus price target of $5.58.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMKR. LMR Partners LLP purchased a new position in shares of EMCORE during the 2nd quarter valued at about $465,000. Ariel Investments LLC grew its position in shares of EMCORE by 15.3% during the 2nd quarter. Ariel Investments LLC now owns 2,290,816 shares of the semiconductor company’s stock valued at $11,569,000 after acquiring an additional 304,256 shares during the period. Laurion Capital Management LP acquired a new stake in shares of EMCORE during the 2nd quarter valued at about $254,000. Cannell Capital LLC acquired a new stake in shares of EMCORE during the 2nd quarter valued at about $4,371,000. Finally, Needham Investment Management LLC grew its position in shares of EMCORE by 225.0% during the 2nd quarter. Needham Investment Management LLC now owns 195,000 shares of the semiconductor company’s stock valued at $985,000 after acquiring an additional 135,000 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.

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EMCORE Company Profile

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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Earnings History for EMCORE (NASDAQ:EMKR)

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