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

EMCORE Co. (NASDAQ:EMKR) shares are going to reverse split on the morning of 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 closing bell on Tuesday, April 2nd.

EMCORE Stock Performance

NASDAQ EMKR opened at $0.35 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.11 and a debt-to-equity ratio of 0.10. EMCORE has a 52-week low of $0.31 and a 52-week high of $1.25. The business’s 50-day moving average price is $0.47 and its 200 day moving average price is $0.47. The firm has a market cap of $26.68 million, a P/E ratio of -0.31 and a beta of 1.54.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On EMCORE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of EMCORE by 13.6% during the 4th quarter. Vanguard Group Inc. now owns 2,256,295 shares of the semiconductor company’s stock valued at $1,103,000 after acquiring an additional 269,909 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of EMCORE by 46.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 110,000 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 35,000 shares during the period. Penn Capital Management Company LLC lifted its position in shares of EMCORE by 57.0% during the 4th quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 1,284,624 shares during the period. Northern Trust Corp lifted its position in shares of EMCORE by 37.8% during the 4th quarter. Northern Trust Corp now owns 117,448 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 32,189 shares during the period. Finally, Manatuck Hill Partners LLC acquired a new position in shares of EMCORE during the 3rd quarter worth approximately $904,000. 65.66% of the stock is currently owned by institutional investors and hedge funds.

About EMCORE

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.