According to Zacks, “EMCORE Corporation offers a broad portfolio of compound semiconductor- based products for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE’s Fiber Optic segment offers optical components, subsystems and systems for high-speed data and telecommunications networks, cable television and fiber-to-the-premises. EMCORE’s Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide solar cells, Covered Interconnect Cells and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar power concentrator systems. “
Separately, B. Riley upgraded shares of EMCORE from a neutral rating to a buy rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $5.30.
EMCORE (NASDAQ:EMKR) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. EMCORE had a negative net margin of 27.99% and a negative return on equity of 16.20%. The business had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $22.56 million. Sell-side analysts expect that EMCORE will post -0.3 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in EMCORE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 191,027 shares of the semiconductor company’s stock valued at $802,000 after purchasing an additional 2,643 shares during the last quarter. BlackRock Inc. raised its position in EMCORE by 1.2% in the 4th quarter. BlackRock Inc. now owns 278,001 shares of the semiconductor company’s stock valued at $1,168,000 after purchasing an additional 3,379 shares during the last quarter. Virtu Financial LLC raised its position in EMCORE by 40.5% in the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 4,436 shares during the last quarter. California Public Employees Retirement System raised its position in EMCORE by 7.5% in the 4th quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock valued at $645,000 after purchasing an additional 10,691 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in EMCORE in the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 62.72% of the company’s stock.
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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