EMCORE (NASDAQ:EMKR) Shares to Reverse Split on Tuesday, April 2nd

EMCORE Co. (NASDAQ:EMKR) shares are going to reverse split before the market opens on Tuesday, April 2nd. The 1-10 reverse split was announced on Tuesday, April 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 2nd.

EMCORE Stock Down 4.7 %

EMCORE stock opened at $0.35 on Friday. The stock has a market capitalization of $26.68 million, a PE ratio of -0.31 and a beta of 1.54. EMCORE has a twelve month low of $0.31 and a twelve month high of $1.25. The company has a quick ratio of 1.95, a current ratio of 3.11 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $0.47 and a 200-day moving average of $0.47.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $24.12 million during the quarter, compared to analysts’ expectations of $27.00 million. EMCORE had a negative net margin of 67.43% and a negative return on equity of 26.76%. On average, equities research analysts anticipate that EMCORE will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of EMCORE in a research report on Saturday, March 23rd. They issued a “hold” rating on the stock.

Institutional Trading of EMCORE

A number of institutional investors have recently made changes to their positions in EMKR. Sei Investments Co. lifted its position in shares of EMCORE by 36.1% in the first quarter. Sei Investments Co. now owns 13,657 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 3,623 shares in the last quarter. Chai Trust Co. LLC bought a new stake in EMCORE during the second quarter worth $38,000. Walleye Trading LLC bought a new stake in EMCORE during the first quarter worth $43,000. Two Sigma Securities LLC bought a new stake in EMCORE during the second quarter worth $51,000. Finally, XTX Topco Ltd raised its position in EMCORE by 34.9% during the first quarter. XTX Topco Ltd now owns 13,853 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 3,583 shares in the last quarter. Institutional investors own 65.66% of the company’s stock.

EMCORE Company Profile

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.