Somewhat Positive Press Coverage Somewhat Unlikely to Impact EMCORE (EMKR) Stock Price
Media stories about EMCORE (NASDAQ:EMKR) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources. Accern 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 coverage optimism score of 0.13 on Accern’s scale. Accern also gave press coverage about the semiconductor company an impact score of 46.4021772287228 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news stories that may have impacted Accern Sentiment’s scoring:
- EMCORE (EMKR) Downgraded to C+ at TheStreet (americanbankingnews.com)
- EMCORE Co. (EMKR) Stake Lowered by Cortina Asset Management LLC (americanbankingnews.com)
- Short Interest in EMCORE Co. (EMKR) Increases By 144.8% (americanbankingnews.com)
- EMCORE Co. (EMKR) Given Consensus Rating of “Hold” by Brokerages (americanbankingnews.com)
- Fuller & Thaler Asset Management Inc. Lowers Holdings in EMCORE Co. (EMKR) (americanbankingnews.com)
Several equities analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and set a $8.75 price target (down previously from $10.50) on shares of EMCORE in a report on Friday, December 1st. Northland Securities cut shares of EMCORE from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. Lake Street Capital restated a “buy” rating and set a $10.00 price objective on shares of EMCORE in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of EMCORE from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, TheStreet cut shares of EMCORE from a “b-” rating to a “c+” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.67.
EMCORE (NASDAQ:EMKR) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). EMCORE had a net margin of 5.48% and a return on equity of 6.59%. The company had revenue of $24.04 million for the quarter, compared to the consensus estimate of $24.75 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. EMCORE’s revenue for the quarter was down 20.3% compared to the same quarter last year. equities analysts anticipate that EMCORE will post 0.01 earnings per share for the current fiscal year.
In related news, CEO Jeffrey Rittichier sold 49,422 shares of EMCORE stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $7.05, for a total transaction of $348,425.10. Following the sale, the chief executive officer now directly owns 366,007 shares in the company, valued at $2,580,349.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.99% of the stock is owned by insiders.
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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