Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Becker Drapkin Management Goes Activist on EMCORE Corporation (EMKR); Adds to Its Position

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.

EMCORE Corporation

Chuck Royce 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.

Disclosure: none

Recommended reading:

Paul Singer Goes Activist on Riverbed Technology Inc (RVBD)

Whitney Tilson, T2 Partners Close Stake in dELiA*s, Inc. (DLIA)

Blue Mountain Capital Increase Stake in Lexmark International Inc (LXK)

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...