Posted by admin on May 7th, 2022

EMCORE (NASDAQ:EMKR – Get Rating) issued its earnings results on Wednesday. The semiconductor company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05), MarketWatch Earnings reports. EMCORE had a net margin of 11.69% and a return on equity of 10.92%. During the same period last year, the business earned $0.15 earnings per share.

NASDAQ:EMKR traded up $0.17 during trading hours on Friday, reaching $3.25. The company had a trading volume of 566,916 shares, compared to its average volume of 429,569. The stock has a 50-day moving average of $3.63 and a two-hundred day moving average of $5.50. EMCORE has a one year low of $3.04 and a one year high of $10.87. The firm has a market capitalization of $121.16 million, a PE ratio of 6.77 and a beta of 1.33.

A number of large investors have recently made changes to their positions in EMKR. Morgan Stanley grew its position in EMCORE by 110.3% in the second quarter. Morgan Stanley now owns 148,582 shares of the semiconductor company’s stock valued at $1,370,000 after acquiring an additional 77,924 shares during the period. Royal Bank of Canada grew its position in EMCORE by 74.4% in the second quarter. Royal Bank of Canada now owns 3,500 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 1,493 shares during the period. Bank of America Corp DE grew its holdings in shares of EMCORE by 721.2% during the second quarter. Bank of America Corp DE now owns 13,968 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 12,267 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of EMCORE by 393.1% during the second quarter. Wells Fargo & Company MN now owns 11,011 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 8,778 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of EMCORE by 12.4% during the third quarter. Invesco Ltd. now owns 60,984 shares of the semiconductor company’s stock worth $457,000 after purchasing an additional 6,733 shares during the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

A number of brokerages recently commented on EMKR. Zacks Investment Research upgraded EMCORE from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. StockNews.com began coverage on EMCORE in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Lake Street Capital lowered EMCORE from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $4.50 in a research note on Thursday, February 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EMCORE currently has a consensus rating of “Hold” and an average target price of $9.58.

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in the United States, Canada, Asia, Europe, and internationally. It operates in two segments, Aerospace and Defense, and Broadband. The company offers navigation system and inertial sensing products, such as fiber optic gyros products that includes gyroscopes, inertial measurement units (IMU), and inertial navigation systems (INS), as well as QMEMS gyroscopes, accelerometers, IMUs, and INS products primarily for the aerospace and defense markets; and defense optoelectronics comprising optiva platform fiber optic transport systems and erbium doped fiber amplifiers, as well as ruggedized microwave flange-mount transmitters, receivers, and optical delay line products.

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