Analysts expect that EMCORE Corporation (NASDAQ:EMKR) will post sales of $30.33 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for EMCORE Corporation’s earnings, with estimates ranging from $30.16 million to $30.50 million. EMCORE Corporation reported sales of $25.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, December 6th.
On average, analysts expect that EMCORE Corporation will report full-year sales of $30.33 million for the current year, with estimates ranging from $123.88 million to $124.20 million. For the next fiscal year, analysts forecast that the company will post sales of $131.67 million per share, with estimates ranging from $123.34 million to $140.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow EMCORE Corporation.
EMCORE Corporation (NASDAQ:EMKR) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $30.95 million during the quarter, compared to the consensus estimate of $30.04 million. EMCORE Corporation had a net margin of 6.73% and a return on equity of 9.25%. The company’s revenue was up 38.2% on a year-over-year basis.
A number of brokerages have recently issued reports on EMKR. BidaskClub upgraded shares of EMCORE Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. B. Riley restated a “neutral” rating and set a $10.50 price target on shares of EMCORE Corporation in a report on Friday, August 4th. Zacks Investment Research downgraded shares of EMCORE Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Northland Securities restated a “buy” rating and set a $13.00 price target on shares of EMCORE Corporation in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.88.
In related news, CEO Jeffrey Rittichier sold 9,189 shares of EMCORE Corporation stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $8.45, for a total value of $77,647.05. Following the completion of the sale, the chief executive officer now owns 288,505 shares in the company, valued at approximately $2,437,867.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Cavalier Investments LLC purchased a new position in EMCORE Corporation in the 3rd quarter valued at approximately $164,000. Victory Capital Management Inc. boosted its position in EMCORE Corporation by 32.2% in the 3rd quarter. Victory Capital Management Inc. now owns 217,325 shares of the semiconductor company’s stock valued at $1,782,000 after buying an additional 52,910 shares during the period. Orca Investment Management LLC boosted its position in EMCORE Corporation by 37.7% in the 3rd quarter. Orca Investment Management LLC now owns 282,864 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 77,447 shares during the period. Nationwide Fund Advisors boosted its position in EMCORE Corporation by 8.7% in the 3rd quarter. Nationwide Fund Advisors now owns 95,902 shares of the semiconductor company’s stock valued at $786,000 after buying an additional 7,642 shares during the period. Finally, Northpointe Capital LLC boosted its position in EMCORE Corporation by 72.3% in the 3rd quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after buying an additional 217,358 shares during the period. 77.32% of the stock is owned by institutional investors.
Shares of EMCORE Corporation (NASDAQ EMKR) traded down $0.30 during midday trading on Friday, hitting $7.60. 191,872 shares of the stock were exchanged, compared to its average volume of 209,172. The firm has a market cap of $204.28, a P/E ratio of 20.00 and a beta of 0.48. EMCORE Corporation has a fifty-two week low of $5.95 and a fifty-two week high of $12.20.
About EMCORE Corporation
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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