EMCORE Corp. (EMKR) Done Disappointing Investors

December 3, 2012 7:55 AM EST
Get Alerts EMKR Hot Sheet
Price: $9.35 --0%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Despite the long history of losing money and disappointing investors, EMCORE Corp. (NASDAQ: EMKR) is finally on the cusp of getting back to profitability, think analysts at Needham and Company.

"We are reiterating our Buy recommendation on EMKR ahead of their upcoming earnings release slated for December 10th," said analyst Alex Henderson.

He thinks Q3 revenues will be up 10 percent quarter over quarter, though EPS could be affected by one-time items. Overall, he is calling for improvements in baseline operations.

"We think anywhere between breakeven to $0.10 is likely for the Dec. Q. The exact number is less important than breaching profitability, in our opinion. A profitable EMKR should see its valuation start to climb," he said.

Needham & Company has a Buy rating on EMCORE (NASDAQ: EMKR) with a price target of $6.50.

For an analyst ratings summary and ratings history on EMCORE click here. For more ratings news on EMCORE click here.

Shares of EMCORE closed at $4.67 yesterday.

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