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.
TRADEMARK VIOLATION NOTICE: “EMCORE (EMKR) Issues Earnings Results, Misses Estimates By $0.05 EPS” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/12/06/emcore-emkr-issues-earnings-results-misses-estimates-by-0-05-eps.html.
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.
Featured Article: Insider Trading
Receive News & Ratings for EMCORE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCORE and related companies with MarketBeat.com's FREE daily email newsletter.