EMCORE (NASDAQ:EMKR) released its earnings results on Thursday. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03), Morningstar.com reports. EMCORE had a negative net margin of 27.99% and a negative return on equity of 16.56%. The firm had revenue of $17.22 million during the quarter, compared to the consensus estimate of $17.24 million. EMCORE updated its Q4 2019 guidance to EPS.
Shares of EMCORE stock traded down $0.06 during midday trading on Friday, hitting $3.02. 72,171 shares of the company traded hands, compared to its average volume of 146,466. The stock has a market capitalization of $80.78 million, a PE ratio of -5.70 and a beta of 0.19. The business has a fifty day simple moving average of $3.11. EMCORE has a 12 month low of $2.68 and a 12 month high of $5.54.
Institutional investors have recently made changes to their positions in the stock. Dougherty Wealth Advisers LLC acquired a new stake in EMCORE during the 2nd quarter worth approximately $33,000. FNY Investment Advisers LLC acquired a new stake in EMCORE during the 2nd quarter worth approximately $49,000. Virtu Financial LLC boosted its position in EMCORE by 40.5% during the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock worth $56,000 after buying an additional 4,436 shares during the period. GMT Capital Corp acquired a new stake in EMCORE during the 1st quarter worth approximately $100,000. Finally, Wells Fargo & Company MN boosted its position in EMCORE by 16.2% during the 2nd quarter. Wells Fargo & Company MN now owns 31,031 shares of the semiconductor company’s stock worth $102,000 after buying an additional 4,333 shares during the period. 60.40% of the stock is currently owned by institutional investors.
EMCORE Company Profile
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.
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