RK Capital Management LLC Buys 296,840 Shares of EMCORE Corporation (EMKR)
RK Capital Management LLC boosted its stake in shares of EMCORE Corporation (NASDAQ:EMKR) by 40.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,037,938 shares of the semiconductor company’s stock after buying an additional 296,840 shares during the quarter. EMCORE Corporation makes up approximately 2.2% of RK Capital Management LLC’s portfolio, making the stock its 18th biggest position. RK Capital Management LLC owned 3.87% of EMCORE Corporation worth $11,054,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in EMKR. Northpointe Capital LLC acquired a new position in EMCORE Corporation during the 2nd quarter worth about $3,202,000. Argent Capital Management LLC lifted its holdings in EMCORE Corporation by 107.7% during the 1st quarter. Argent Capital Management LLC now owns 361,650 shares of the semiconductor company’s stock worth $3,255,000 after buying an additional 187,550 shares during the period. Bogle Investment Management L P DE acquired a new position in EMCORE Corporation during the 1st quarter worth about $1,591,000. Victory Capital Management Inc. lifted its holdings in EMCORE Corporation by 2,579.5% during the 2nd quarter. Victory Capital Management Inc. now owns 164,415 shares of the semiconductor company’s stock worth $1,751,000 after buying an additional 158,279 shares during the period. Finally, P.A.W. Capital Corp lifted its holdings in EMCORE Corporation by 177.8% during the 1st quarter. P.A.W. Capital Corp now owns 200,000 shares of the semiconductor company’s stock worth $1,800,000 after buying an additional 128,000 shares during the period. 76.12% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Jikun Kim sold 20,504 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $11.25, for a total transaction of $230,670.00. Following the completion of the sale, the chief financial officer now directly owns 39,036 shares in the company, valued at $439,155. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company’s stock.
Shares of EMCORE Corporation (NASDAQ:EMKR) traded down 2.25% on Friday, reaching $8.70. The company’s stock had a trading volume of 329,011 shares. The stock has a 50 day moving average of $9.28 and a 200-day moving average of $9.77. EMCORE Corporation has a 12 month low of $5.05 and a 12 month high of $12.20. The firm has a market cap of $233.85 million, a price-to-earnings ratio of 30.31 and a beta of 0.69.
EMCORE Corporation (NASDAQ:EMKR) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $30.95 million during the quarter, compared to analyst estimates of $30.04 million. EMCORE Corporation had a net margin of 6.73% and a return on equity of 9.25%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. On average, analysts anticipate that EMCORE Corporation will post $0.53 EPS for the current year.
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Several brokerages have commented on EMKR. B. Riley downgraded EMCORE Corporation from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a report on Tuesday, July 4th. BidaskClub downgraded EMCORE Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Northland Securities reaffirmed a “buy” rating and set a $13.00 target price on shares of EMCORE Corporation in a report on Tuesday. Finally, Zacks Investment Research downgraded EMCORE Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.40.
EMCORE Corporation Company Profile
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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