EMCORE Co. (EMKR) CEO Jeffrey Rittichier Sells 49,422 Shares

EMCORE Co. (NASDAQ:EMKR) CEO Jeffrey Rittichier sold 49,422 shares of EMCORE stock in a transaction on Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the transaction, the chief executive officer now owns 366,007 shares of the company’s stock, valued at $2,580,349.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Jeffrey Rittichier also recently made the following trade(s):

  • On Thursday, October 19th, Jeffrey Rittichier sold 9,189 shares of EMCORE stock. The shares were sold at an average price of $8.45, for a total value of $77,647.05.

EMCORE Co. (NASDAQ EMKR) opened at $6.90 on Thursday. EMCORE Co. has a 52-week low of $5.80 and a 52-week high of $12.20. The company has a market capitalization of $185.47, a PE ratio of 23.00, a P/E/G ratio of 1.60 and a beta of 0.44.

EMCORE (NASDAQ:EMKR) last posted its earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). EMCORE had a return on equity of 9.30% and a net margin of 6.70%. The business had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $30.29 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. EMCORE’s quarterly revenue was up 14.1% compared to the same quarter last year. analysts forecast that EMCORE Co. will post 0.37 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Algert Global LLC purchased a new position in EMCORE during the third quarter worth about $461,000. Highbridge Capital Management LLC grew its position in EMCORE by 130.9% during the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after buying an additional 14,499 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in EMCORE during the third quarter worth about $757,000. Allianz Asset Management GmbH grew its position in EMCORE by 9.9% during the third quarter. Allianz Asset Management GmbH now owns 334,053 shares of the semiconductor company’s stock worth $2,739,000 after buying an additional 30,219 shares in the last quarter. Finally, Unterberg Capital LLC grew its position in EMCORE by 79.2% during the third quarter. Unterberg Capital LLC now owns 430,000 shares of the semiconductor company’s stock worth $3,526,000 after buying an additional 190,000 shares in the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.

Several equities analysts have recently weighed in on the company. Northland Securities cut EMCORE from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 5th. B. Riley reiterated a “neutral” rating and issued a $8.75 price target (down from $10.50) on shares of EMCORE in a research report on Friday, December 1st. Finally, Lake Street Capital reiterated a “buy” rating and issued a $10.00 price target on shares of EMCORE in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. EMCORE presently has an average rating of “Hold” and a consensus price target of $9.13.

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About EMCORE

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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