Emcore Corp. (EMKR) Shares Down 1.5%
Emcore Corp. (NASDAQ:EMKR) shares fell 1.5% on Friday . The stock traded as low as $6.39 and last traded at $6.41, with a volume of 85,327 shares changing hands. The stock had previously closed at $6.51.
Several research firms have recently weighed in on EMKR. B. Riley reissued a “buy” rating and set a $8.50 price objective on shares of Emcore Corp. in a report on Monday, May 9th. Zacks Investment Research cut shares of Emcore Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Emcore Corp. has a consensus rating of “Hold” and a consensus price target of $8.56.
The firm has a market capitalization of $168.10 million and a P/E ratio of 19.94. The stock’s 50 day moving average is $6.06 and its 200 day moving average is $5.62.
Emcore Corp. (NASDAQ:EMKR) last issued its earnings results 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 research analysts predict that Emcore Corp. will post $0.17 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Friday, July 29th. Shareholders of record on Monday, July 18th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, August 1st.
An institutional investor recently raised its position in Emcore Corp. stock. Royce & Associates LLC raised its stake in Emcore Corp. (NASDAQ:EMKR) by 81.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 627,474 shares of the company’s stock after buying an additional 281,398 shares during the period. Royce & Associates LLC owned approximately 2.42% of Emcore Corp. worth $3,846,000 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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