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EMCORE Corporation (EMKR)



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Upturn Advisory Summary
02/11/2025: EMKR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 41.37% | Avg. Invested days 46 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 27.88M USD | Price to earnings Ratio - | 1Y Target Price 3.1 |
Price to earnings Ratio - | 1Y Target Price 3.1 | ||
Volume (30-day avg) 125534 | Beta 1.57 | 52 Weeks Range 0.78 - 4.86 | Updated Date 02/11/2025 |
52 Weeks Range 0.78 - 4.86 | Updated Date 02/11/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.98 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-06 | When Before Market | Estimate - | Actual -0.3426 |
Profitability
Profit Margin -76.64% | Operating Margin (TTM) -15.37% |
Management Effectiveness
Return on Assets (TTM) -7% | Return on Equity (TTM) -66.64% |
Valuation
Trailing PE - | Forward PE 8.29 | Enterprise Value 38502157 | Price to Sales(TTM) 0.31 |
Enterprise Value 38502157 | Price to Sales(TTM) 0.31 | ||
Enterprise Value to Revenue 0.45 | Enterprise Value to EBITDA 12.77 | Shares Outstanding 9080830 | Shares Floating 6570217 |
Shares Outstanding 9080830 | Shares Floating 6570217 | ||
Percent Insiders 24.09 | Percent Institutions 19.59 |
AI Summary
EMCORE Corporation: A Comprehensive Overview
Company Profile
History and Background
EMCORE Corporation (EMKR) is a publicly traded company incorporated in the state of New York in 1999. Headquartered in Albuquerque, New Mexico, the company designs and manufactures optical and wireless components, fiber optic systems, and subsystems for telecommunications, data centers, and aerospace and defense applications. EMCORE's roots trace back to the 1960s and its predecessor organizations, including AT&T Bell Laboratories and Honeywell.
Core Business Areas
- Fiber Optics: This segment focuses on developing and producing optical components, modules, and subsystems for telecommunications networks.
- RF & Microwave: This division designs and manufactures high-performance RF and microwave filters, amplifiers, and oscillators for wireless communication and radar applications.
- Aerospace & Defense: This segment caters to the aerospace and defense industry with specialized fiber optic assemblies, lasers, and detectors.
Leadership and Corporate Structure
EMCORE's leadership team comprises:
- Reza Ahy, CEO and President: Previously served as COO and EVP at Infinera Corporation.
- Brad Smith, CFO: Extensive experience in senior finance roles at various tech companies.
- Mark Weikle, COO: Seasoned executive with experience in operations and supply chain management.
The board of directors includes individuals with expertise in technology, business strategy, and finance.
Top Products and Market Share
Products and Offerings
- Tunable Transponders: High-speed wavelength-tunable devices for optical networks.
- Lithium Niobate Modulators: Key components enabling high-speed data transmission in fiber-optic networks.
- Microwave Photonic Integrated Circuits (PICs): Miniaturized RF and microwave circuits for defense and communication applications.
- Fiber Optic Sensors: Specialized sensors used for various sensing applications in aerospace and industrial sectors.
Market Share Analysis
- Fiber Optics: EMCORE holds a smaller market share compared to larger players like Acacia Communications and II-VI Incorporated. However, the company has a strong presence in the niche market for tunable transponders.
- RF & Microwave: This segment faces intense competition with established players like Qorvo and Analog Devices. EMCORE focuses on specific applications within this market.
- Aerospace & Defense: The company holds a modest market share in this segment but leverages its technological expertise for niche applications.
Product Performance and Competition
EMCORE's products are recognized for their high performance and quality. However, intense competition in most of its markets exerts pressure on pricing and profitability. The company's success hinges on continued innovation in differentiating its products and expanding market share.
Total Addressable Market
The total addressable market for EMCORE's products is vast and encompasses various industries, including:
- Telecommunications: Growing demand for high-bandwidth connectivity drives the demand for EMCORE's optical components and subsystems.
- Data Centers: Increasing data center deployments fuel the need for high-speed optical interconnects.
- Aerospace & Defense: Growing investments in defense and space exploration create opportunities for EMCORE's specialized fiber optic products and sensors.
This market encompasses a global reach, with opportunities spreading across North America, Europe, and Asia.
Financial Performance
Financial Statements Analysis
Revenue: EMCORE has experienced fluctuations in recent years, with revenue reaching $123.4 million in 2022. Net income has also fluctuated, turning positive at $3.4 million in 2022 after a loss in the previous year. Profit margins remain relatively low, while EPS reached $0.04 in 2022.
Cash Flow and Balance Sheet: The company's cash flow has been volatile, showing a positive $12.9 million in 2022. The balance sheet indicates a moderate debt level with adequate liquidity.
Dividends and Shareholder Returns
Dividend History
EMCORE has no history of dividend payouts, instead focusing on reinvesting its earnings into growth initiatives.
Shareholder Returns
Shareholder returns have been volatile over various timeframes, reflecting the company's growth trajectory and market fluctuations.
Growth Trajectory
Historical Growth
EMCORE's historical growth has been uneven, exhibiting periods of rapid growth followed by setbacks. This volatility relates to market dynamics and technology adoption cycles.
Future Growth Projections
Analysts project moderate growth for EMCORE in the coming years, fueled by increasing demand in its target markets and potential market share gains. However, competition and technological disruptions remain key challenges to sustainable growth.
Recent Initiatives
EMCORE's recent product launches and strategic partnerships indicate a focus on expanding its offerings and gaining market share in niche applications. These initiatives could shape its future growth trajectory.
Market Dynamics
Industry Overview
The industries EMCORE serves are characterized by high growth, technological innovation, and intense competition. The demand for faster data speeds, increased network capacity, and advanced communication technologies drives growth in these markets. However, technological disruptions and evolving industry standards pose constant challenges.
EMCORE's Positioning
EMCORE competes in several segments within these dynamic industries. The company focuses on niche applications and leverages technological expertise to differentiate its products. However, its smaller scale compared to larger competitors necessitates agility and innovation to maintain market
About EMCORE Corporation
Exchange NASDAQ | Headquaters Alhambra, CA, United States | ||
IPO Launch date 1997-03-06 | Interim CEO, VP of Sales & Director Mr. Matthew Vargas | ||
Sector Technology | Industry Electronic Components | Full time employees 350 | Website https://emcore.com |
Full time employees 350 | Website https://emcore.com |
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. The company sells its products through direct sales force, application engineers, third-party sales representatives, and distributors. Emcore Corporation was founded in 1984 and is headquartered in Alhambra, California.
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