Matthew Drapkin and Steven R. Becker
are bullish on EMCORE Corporation (NASDAQ:EMKR
). In a recent filing with the Securities and Exchange Commission, their fund, Becker Drapkin Management, has revealed increasing its position from 2.31 million to 2.34 million shares. The new holding accounts for approximately 8.8% of the company's common stock. In the same filing, Becker Drapkin Management has disclosed an agreement with EMCORE management that will allow Mr. Becker Mr. Stephen Domenik and Mr. Gerald Fine to become board members from December 9th, 2013 on.
is also optimistic about EMCORE Corporation (NASDAQ:EMKR). During the third quarter of 2013, his fund, Royce & Associates, has increased its stake by 213% to 832,300 shares valued at $3.7 million. Mark Broach
is betting big on this stock too. His fund, Manatuck Hill Partners has added to its position during Q3, taking it to 225,000 shares reportedly worth a little over $1 million. A fund that has opened a position in EMCORE is Nokomis Capital. During the third quarter, Nokomis' manager Brett Hendrickson
has built a position by acquiring 1,179,465 shares valued at $5.28 million.
EMCORE Corporation (NASDAQ:EMKR) engages in the production of compound semiconductor-based products. The stock price movement in 2013 resembles a roller coaster, advancing 10% to a current price of $4.85 per share. The company has a market cap of $130 million and does not pay a dividend.
For the quarter ended September 30, 2013, EMCORE posted revenues of $43.1 million, a 9.3% year-over-year decrease, and a loss per share of $0.08. For the current quarter, analysts expect the company to register revenues of $47 million and earnings of $0.03 per share.
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