Zacks: Analysts Anticipate EMCORE Corporation (NASDAQ:EMKR) Will Announce Earnings of $0.11 Per Share
Analysts predict that EMCORE Corporation (NASDAQ:EMKR) will post $0.11 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for EMCORE Corporation’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.12. EMCORE Corporation reported earnings per share of ($0.01) in the same quarter last year, which suggests a positive year-over-year growth rate of 1,200%. The business is expected to report its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that EMCORE Corporation will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.43 to $0.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow EMCORE Corporation.
EMCORE Corporation (NASDAQ:EMKR) last issued its earnings results on Thursday, May 4th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $32.60 million during the quarter, compared to analyst estimates of $30.23 million. EMCORE Corporation had a return on equity of 6.46% and a net margin of 6.23%. The company’s quarterly revenue was up 51.6% on a year-over-year basis.
A number of equities analysts have recently commented on EMKR shares. Zacks Investment Research upgraded EMCORE Corporation from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Friday, April 7th. B. Riley reiterated a “buy” rating and issued a $12.00 target price on shares of EMCORE Corporation in a report on Friday, May 5th. Finally, BidaskClub upgraded EMCORE Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $11.38.
Shares of EMCORE Corporation (NASDAQ:EMKR) traded down 1.36% during mid-day trading on Monday, reaching $10.90. The company’s stock had a trading volume of 127,400 shares. EMCORE Corporation has a 12-month low of $4.90 and a 12-month high of $11.94. The stock has a market capitalization of $292.41 million, a P/E ratio of 43.60 and a beta of 0.62. The company’s 50-day moving average price is $10.76 and its 200-day moving average price is $9.47.
In related news, CFO Jikun Kim sold 20,504 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $11.25, for a total transaction of $230,670.00. Following the completion of the transaction, the chief financial officer now owns 39,036 shares in the company, valued at approximately $439,155. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Rittichier sold 10,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the chief executive officer now owns 196,185 shares of the company’s stock, valued at approximately $1,981,468.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,803 shares of company stock valued at $345,699. 0.77% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of EMKR. Russell Investments Group Ltd. acquired a new position in EMCORE Corporation during the fourth quarter worth about $2,391,000. State Street Corp boosted its position in EMCORE Corporation by 33.6% in the fourth quarter. State Street Corp now owns 378,474 shares of the semiconductor company’s stock worth $3,290,000 after buying an additional 95,153 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in EMCORE Corporation during the fourth quarter worth about $198,000. GSA Capital Partners LLP boosted its position in EMCORE Corporation by 111.4% in the fourth quarter. GSA Capital Partners LLP now owns 24,521 shares of the semiconductor company’s stock worth $213,000 after buying an additional 12,921 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in EMCORE Corporation during the fourth quarter worth about $172,000. Institutional investors own 75.07% of the company’s stock.
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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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