Emcore Corp. (EMKR) Shares Down 6.1%
Emcore Corp. (NASDAQ:EMKR) shares dropped 6.1% on Friday . The stock traded as low as $4.90 and last traded at $4.94, with a volume of 434,351 shares traded. The stock had previously closed at $5.26.
EMKR has been the subject of several research analyst reports. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Emcore Corp. in a research report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Emcore Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.19.
The firm has a market capitalization of $128.68 million and a P/E ratio of 15.26. The stock’s 50 day moving average is $6.07 and its 200 day moving average is $5.62.
Emcore Corp. (NASDAQ:EMKR) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Equities analysts expect that Emcore Corp. will post $0.16 earnings per share for the current year.
The firm also recently disclosed a special dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 18th were given a dividend of $1.50 per share. The ex-dividend date was Monday, August 1st.
A hedge fund recently raised its stake in Emcore Corp. stock. Nationwide Fund Advisors raised its stake in Emcore Corp. (NASDAQ:EMKR) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,406 shares of the company’s stock after buying an additional 18,135 shares during the period. Nationwide Fund Advisors owned 0.71% of Emcore Corp. worth $1,124,000 as of its most recent filing with the SEC.
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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