Becker Drapkin Management Ups Position in EMCORE Corporation (EMKR) Even Higher

Only a couple of days after reporting an increase in their holding in EMCORE Corporation (NASDAQ:EMKR)Matthew Drapkin and Steven R. Becker's fund Becker Drapkin Management reported upping their stake in the company even higher. A new filing with the SEC, revealed that the fund currently owns around 3.2 million shares of the company, which amass 11.9% of the company's outstanding stock. At the current stock price of the company, Becker Drapkin's holding has a value of almost $15 million. EMCORE Corporation The moves came amid the agreement signed between Becker Drapkin and EMCORE Corporation (NASDAQ:EMKR), under the terms of which, the fund nominated several representatives on the company's board, including Mr. Becker. The stock of EMCORE Corporation (NASDAQ:EMKR) has grown by around 9% since the beginning of the year. The company posted a 2.7% increase in its revenue for the fiscal 2013, ended September 2013, which totaled $168.1 million. The net income also advanced by some $44 million to a total of $5.0 million in the fiscal 2013. For the current quarter, EMCORE Corporation (NASDAQ:EMKR) expects revenue between $43 and $45 million, versus $43.1 million posted in the previous quarter. Becker Drapkin initiated their stake in EMCORE Corporation (NASDAQ:EMKR) during the third quarter of 2013, reporting a $5.9 million stake, which amasses some 1.3 million shares in the latest 13F. Other hedge funds have also been bullish on the company. Brett Hendrickson's Nokomis Capital also initiated a position in the company during the third quarter via acquiring some 1.2 million shares, worth $5.3 million. Royce & Associates, managed by Chuck Royce boosted its holding in EMCORE by over 200% to a total of 832,300 shares, with a reported value of $3.7 million. Last week, Becker Drapkin Management disclosed raising its position in Comverse Inc (NASDAQ:CNSI) to a total of 6.1% of the company's common stock, which represent 1.4 million shares, from 93,300 shares held at the end of September. Disclosure: none Recommended Reading: John Griffin, Blue Ridge Reveal Passive Stake in Zulily J. Carlo Cannell’s Fund Ups Position in Hooper Holmes Hedge Fund News: Warren Buffett, Bill Ackman & John Paulson
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