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

EMCORE Co. (NASDAQ:EMKR)’s stock is set 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 Price Performance

EMKR 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. The company’s 50-day moving average is $0.47 and its 200-day moving average is $0.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.11 and a quick ratio of 1.95. EMCORE has a 1 year low of $0.31 and a 1 year high of $1.25.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings data 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 net margin of 67.43% and a negative return on equity of 26.76%. The company had revenue of $24.12 million for the quarter, compared to analysts’ expectations of $27.00 million. Equities research analysts expect that EMCORE will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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.

Hedge Funds Weigh In On EMCORE

Several large investors have recently added to or reduced their stakes in the business. Cannell Capital LLC lifted its position in EMCORE by 2.4% in the 1st quarter. Cannell Capital LLC now owns 3,720,303 shares of the semiconductor company’s stock valued at $13,765,000 after acquiring an additional 88,690 shares in the last quarter. Penn Capital Management Company LLC increased its stake in EMCORE by 57.0% in 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 buying an additional 1,284,624 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in EMCORE in the 1st quarter valued at about $3,571,000. Perkins Capital Management Inc. increased its stake in EMCORE by 181.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock valued at $1,106,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in EMCORE by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 2,256,295 shares of the semiconductor company’s stock valued at $1,103,000 after buying an additional 269,909 shares during 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.