EMCORE (EMKR) Issues Earnings Results

EMCORE (NASDAQ:EMKR) announced its quarterly earnings data on Tuesday. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02), Bloomberg Earnings reports. The company had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $30.29 million. EMCORE had a net margin of 6.73% and a return on equity of 9.25%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS.

EMCORE (EMKR) opened at $7.40 on Tuesday. EMCORE has a one year low of $6.20 and a one year high of $12.20. The firm has a market capitalization of $198.91, a price-to-earnings ratio of 19.47 and a beta of 0.45.

EMKR has been the subject of a number of recent research reports. Northland Securities reiterated a “buy” rating and set a $13.00 price objective on shares of EMCORE in a research note on Tuesday, September 12th. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, B. Riley reiterated a “neutral” rating and set a $8.75 price objective (down previously from $10.50) on shares of EMCORE in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.44.

In other news, CEO Jeffrey Rittichier sold 9,189 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.45, for a total value of $77,647.05. Following the completion of the transaction, the chief executive officer now owns 288,505 shares in the company, valued at $2,437,867.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by insiders.

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About EMCORE

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.

Earnings History for EMCORE (NASDAQ:EMKR)

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