$24.01 Million in Sales Expected for EMCORE Co. (EMKR) This Quarter

Equities analysts predict that EMCORE Co. (NASDAQ:EMKR) will post sales of $24.01 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for EMCORE’s earnings, with the lowest sales estimate coming in at $24.00 million and the highest estimate coming in at $24.02 million. EMCORE posted sales of $24.04 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that EMCORE will report full-year sales of $104.71 million for the current financial year, with estimates ranging from $104.00 million to $105.42 million. For the next financial year, analysts expect that the business will post sales of $0.00. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover EMCORE.

EMCORE (NASDAQ:EMKR) last posted its earnings results on Tuesday, December 4th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). EMCORE had a negative net margin of 20.39% and a negative return on equity of 12.90%. The firm had revenue of $25.24 million during the quarter, compared to analyst estimates of $24.71 million.



Several research firms recently issued reports on EMKR. ValuEngine upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Lake Street Capital set a $6.00 target price on shares of EMCORE and gave the company a “buy” rating in a research note on Thursday, December 6th. B. Riley lowered shares of EMCORE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $6.00 to $5.75 in a report on Friday, November 9th. Finally, Northland Securities raised shares of EMCORE from a “market perform” rating to an “outperform” rating in a report on Friday, October 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.58.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. grew its holdings in shares of EMCORE by 17.0% in the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 9,700 shares during the period. Virtu Financial LLC purchased a new stake in shares of EMCORE in the fourth quarter valued at about $46,000. Putnam Investments LLC grew its holdings in shares of EMCORE by 7.5% in the second quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock valued at $1,390,000 after purchasing an additional 19,300 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of EMCORE by 32.3% in the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock valued at $608,000 after purchasing an additional 31,218 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in shares of EMCORE in the second quarter valued at about $254,000. 64.50% of the stock is owned by hedge funds and other institutional investors.

Shares of EMKR traded up $0.01 during trading hours on Friday, hitting $4.62. The stock had a trading volume of 43,725 shares, compared to its average volume of 65,168. EMCORE has a fifty-two week low of $3.93 and a fifty-two week high of $7.00. The stock has a market cap of $128.37 million, a P/E ratio of -8.66 and a beta of 0.17.

About EMCORE

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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