EMCORE (EMKR) Earnings Preview - Craig-Hallum

Craig-Hallum analyst Richard Shannon reiterated a Buy rating and $10.50 price target on EMCORE (NASDAQ: EMKR) ahead of F2Q results early next month, expecting a meet or beat quarter with solid results/guidance, driven largely by a healthy CATV spending environment that should support results for at least a few quarters with potential green shoot indications from LiDAR given EMKR’s laser-making capability with its InP fab.

The analyst stated "We are increasingly positive about EMKR’s potential in navigation sensors. While progress with FOG sensors has been slowed by COVID, we see opportunity from MEMS IMUs. As highlighted by EMKR’s release yesterday, its SDI500 IMU compares very well to a competitive sensor (HG1700 from Honeywell) that has sold nearly 400K units over the past two decades, primarily to Boeing. With ASPs in the ~$10K range, it suggests a normalized opportunity of $100M/year, a run-rate that EMKR in whole does today. We don’t have visibility into timing, but this can change their financials materially."

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 $6.25 yesterday.

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