EMCORE (EMKR) Earns Daily News Impact Rating of 0.24
Press coverage about EMCORE (NASDAQ:EMKR) has trended somewhat positive recently, AlphaOne reports. The research firm, a subsidiary of Accern, rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. EMCORE earned a news sentiment score of 0.24 on AlphaOne’s scale. AlphaOne also assigned news stories about the semiconductor company an impact score of 75 out of 100, meaning that recent news coverage is likely to have an impact on the company’s share price in the near future.
Several brokerages recently weighed in on EMKR. B. Riley reaffirmed a “buy” rating and set a $10.00 target price on shares of EMCORE in a research note on Tuesday, February 7th. Lake Street Capital upped their target price on shares of EMCORE from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Dougherty & Co upped their target price on shares of EMCORE from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Finally, Zacks Investment Research downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Five research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $11.25.
Shares of EMCORE (NASDAQ:EMKR) remained flat at $8.85 during midday trading on Friday. The company had a trading volume of 225,247 shares. The company has a market capitalization of $235.27 million, a PE ratio of 25.95 and a beta of 0.73. EMCORE has a one year low of $4.90 and a one year high of $10.50. The company’s 50 day moving average price is $8.76 and its 200 day moving average price is $8.04.
EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Tuesday, February 7th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business earned $30.20 million during the quarter, compared to analyst estimates of $29.03 million. EMCORE had a net margin of 9.06% and a return on equity of 3.84%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, analysts forecast that EMCORE will post $0.50 earnings per share for the current year.
In related news, CEO Jeffrey Rittichier sold 6,237 shares of EMCORE stock in a transaction on Friday, February 17th. The shares were sold at an average price of $10.00, for a total value of $62,370.00. Following the completion of the sale, the chief executive officer now owns 212,422 shares in the company, valued at $2,124,220. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.
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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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