$0.08 Earnings Per Share Expected for EMCORE Co. (EMKR) This Quarter

Wall Street brokerages predict that EMCORE Co. (NASDAQ:EMKR) will post $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for EMCORE’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.09. EMCORE reported earnings of $0.13 per share in the same quarter last year, which would indicate a negative year over year growth rate of 38.5%. The company is expected to announce its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that EMCORE will report full year earnings of $0.50 per share for the current financial year, with EPS estimates ranging from $0.46 to $0.53. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for EMCORE.

EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). EMCORE had a net margin of 6.70% and a return on equity of 9.30%. The firm had revenue of $29.20 million for the quarter, compared to the consensus estimate of $30.29 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis.

Several equities analysts recently issued reports on the company. Northland Securities lowered EMCORE from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. B. Riley restated a “neutral” rating and set a $8.75 price target (down from $10.50) on shares of EMCORE in a research note on Friday, December 1st. Finally, Lake Street Capital restated a “buy” rating and set a $10.00 price target on shares of EMCORE in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.13.

Shares of EMCORE (NASDAQ:EMKR) traded down $0.25 on Friday, reaching $6.75. The company had a trading volume of 189,553 shares, compared to its average volume of 428,136. EMCORE has a 1 year low of $5.80 and a 1 year high of $12.20. The company has a market capitalization of $181.43, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.59 and a beta of 0.44.

In related news, CEO Jeffrey Rittichier sold 9,189 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.45, for a total transaction of $77,647.05. Following the transaction, the chief executive officer now directly owns 288,505 shares in the company, valued at $2,437,867.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.77% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gotham Asset Management LLC acquired a new stake in EMCORE during the second quarter valued at approximately $111,000. Voya Investment Management LLC acquired a new stake in EMCORE during the second quarter valued at approximately $112,000. Dynamic Technology Lab Private Ltd acquired a new stake in EMCORE during the third quarter valued at approximately $151,000. Wells Fargo & Company MN boosted its holdings in EMCORE by 2.5% during the second quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 466 shares in the last quarter. Finally, Cavalier Investments LLC acquired a new stake in EMCORE during the third quarter valued at approximately $164,000. 77.55% of the stock is currently owned by institutional investors.

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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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