Perkins Capital Management Inc. Sells 199,050 Shares of EMCORE Co. (NASDAQ:EMKR)

Perkins Capital Management Inc. decreased its stake in EMCORE Co. (NASDAQ:EMKR) by 94.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,550 shares of the semiconductor company’s stock after selling 199,050 shares during the period. Perkins Capital Management Inc. owned 0.14% of EMCORE worth $26,000 at the end of the most recent quarter.

Separately, Archon Capital Management LLC grew its holdings in EMCORE by 65.1% during the first quarter. Archon Capital Management LLC now owns 12,552,577 shares of the semiconductor company’s stock worth $4,331,000 after purchasing an additional 4,951,568 shares during the period. Institutional investors and hedge funds own 65.66% of the company’s stock.

EMCORE Price Performance

Shares of EMKR stock opened at $2.19 on Thursday. The firm has a 50 day moving average price of $1.73 and a two-hundred day moving average price of $1.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. EMCORE Co. has a 12-month low of $0.78 and a 12-month high of $7.20.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. The business had revenue of $20.44 million during the quarter, compared to analyst estimates of $20.00 million. Research analysts predict that EMCORE Co. will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. Craig Hallum upgraded shares of EMCORE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1.00 to $3.00 in a research report on Wednesday, October 2nd.

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.