EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in the United States, Canada, Asia, Europe, and internationally. The company offers cable television (CATV) products, including forward and return-path analog lasers, receivers, photodetectors, and subassembly components; and analog and digital fiber-optic transmitters, quadrature amplitude modulation transmitters, optical switches, and CATV fiber amplifiers. It also provides high-power gain chips products, photodiode products, and GPON fiber-to-the-premises (FTTP) and data center chip products for the telecommunication markets, as well as lasers, receivers, and photodetector components for wireless, distributed sensing, and light detecting and ranging applications. In addition, the company offers navigation system and inertial sensing products, such as fiber optic gyroscope, quartz MEMS gyroscope, and inertial measurement unit and navigation system primarily for the aerospace and defense markets; and defense optoelectronics, such as optiva platform fiber optic transport systems and erbium doped fiber amplifiers, as well as ruggedized microwave flange-mount transmitters, receivers, and optical delay line products. It serves CATV, wireless, FTTP, long-term evolution, and data center markets; and aerospace and defense and satellite communications markets. 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.
IPO Year: 1997
Exchange: NASDAQ
Website: emcore.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/2/2024 | $3.00 | Hold → Buy | Craig Hallum |
| 8/10/2022 | Outperform → Market Perform | Northland Capital | |
| 2/10/2022 | $11.00 → $4.50 | Buy → Hold | Lake Street |
Transaction solidifies the formation of a new industry leader providing highly engineered products to the aerospace and defense markets Charlesbank Capital Partners ("Charlesbank"), a middle-market private investment firm, today announced that it has, through new aerospace manufacturing holding company Velocity One, successfully closed on its acquisition of EMCORE Corporation (NASDAQ:EMKR) ("EMCORE"), a provider of specialized inertial navigation solutions to the aerospace and defense ("A&D") industry. The transaction was first announced on November 8, 2024, following unanimous approval by the EMCORE board of directors. This press release features multimedia. View the full release here: ht
BUDD LAKE, NJ, Jan. 03, 2025 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), a leading provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2024 fourth quarter (4Q24) ended September 30, 2024. "As we close out the fiscal year, we are pleased to report that execution on our previously announced restructuring plan resulted in significant progress in all areas of the business. During 4Q24, the Company generated positive cash flow of $1.8 million and substantially lowered operating expenses," said Matt Vargas, interim Chief Executive Officer. "In addition, on a sequential-quarter basis, we increased revenue 6% and grew b
Transaction Will Unite Industry Leaders to Create an Emerging Force in the Aerospace and Defense IndustryFAIRFIELD, NJ / ACCESSWIRE / November 8, 2024 / Velocity One, a newly formed aerospace manufacturing holding company, announced today it has signed a merger agreement with EMCORE Corporation (NASDAQ:EMKR) ("EMCORE"), a provider of inertial navigation solutions to the aerospace and defense industry. Under the agreement, EMCORE will become a wholly owned subsidiary of Velocity One. The purchase price of $3.10 per share in cash, backed by Charlesbank Capital Partners ("Charlesbank"), a private investment firm with more than $22 billion of total assets*, has been unanimously approved by the E
FAIRFIELD, New Jersey, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Velocity One, a newly formed aerospace manufacturing holding company, announced today it has signed a merger agreement with EMCORE Corporation (NASDAQ:EMKR) ("EMCORE"), a provider of inertial navigation solutions to the aerospace and defense industry. Under the agreement, EMCORE will become a wholly owned subsidiary of Velocity One. The purchase price of $3.10 per share in cash, backed by Charlesbank Capital Partners ("Charlesbank"), a private investment firm with more than $22 billion of total assets*, has been unanimously approved by the EMCORE board of directors. Velocity One will now have three industry leaders operating under i
BUDD LAKE, NJ, Oct. 01, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR) ("Emcore" or the "Company), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today confirmed that it has received an unsolicited, non-binding proposal from Mobix Labs, Inc. ("Mobix") to acquire all of the Company's outstanding shares for $3.80 per share in cash. The Company's Board of Directors continues to evaluate a range of strategic and financial options to enhance shareholder value. The Company's Board of Directors and management team are committed to acting in the best interests of all shareholders. Consistent with its fiduciary duties a
Synergistic Acquisition would enhance Mobix Labs' competitive strength in aerospace and defense sector Scales operations and cash flow Mobix Labs, Inc. (NASDAQ:MOBX) ("Mobix Labs", "Mobix" or the "Company"), a leader in advanced wireless and connectivity solutions for the military and defense sector, today announced it has submitted a compelling non-binding proposal to the Board of Directors of EMCORE Corporation (NASDAQ:EMKR) ("Emcore"), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, to acquire all of EMCORE's outstanding shares for $3.80 per share in cash. Mobix Labs' all cash proposed offer to the EMCORE Board represent
BUDD LAKE, NJ, Aug. 06, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2024 third quarter (3Q24) ended June 30, 2024. Management will host a conference call to discuss 3Q24 financial and business results on August 7, 2024 at 8:00 a.m. Eastern Time (ET). "Revenue came in strong at $20.4 million for 3Q24, driven by record high shipments from our Concord site and a solid performance at our Tinley Park operation," said Matt Vargas, interim Chief Executive Officer. "On the expense side, we continue to work through the previously ann
BUDD LAKE, NJ, July 31, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, will announce its fiscal 2024 third-quarter results for the period ended June 30, 2024, on Tuesday, August 6, 2024, after the market close. Conference Call and Webcast Information The Company will host a conference call to discuss the results at 8:00 a.m. (ET) on Wednesday, August 7, 2024. Interim Chief Executive Officer, Matt Vargas, and Chief Financial Officer, Tom Minichiello, will provide an overview of the results, discuss current business conditions, and conduct a question and answer s
Presentation Scheduled for Monday, June 3rd at 4:45 p.m.Session E4: Inertial Navigation Technologies 2, Ballroom D, Northern Kentucky Convention Center BUDD LAKE, NJ, May 31, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, announced today that its Chief Scientist, Sergey Zotov, Ph.D., will present a talk titled "Unveiling the Nuances: A Detailed Journey from Tactical to High-End Navigation-Grade MEMS Accelerometers at EMCORE" at the Joint Navigation Conference (JNC) on Monday, June 3 at 4:45 p.m., Session E4: Inertial Navigation Technologies 2, Ballroom D at the No
BUDD LAKE, NJ, May 23, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced personnel and expense reduction actions, including the planned full closure of the Alhambra, CA site. Personnel reductions are expected to result in annualized savings of approximately $17 million and are the first stage of a restructuring program that is expected to include additional actions designed to further reduce annualized operating costs in an expedited manner. While the personnel reductions are significant and represent approximately 40% of EMCORE's workforce, they ar
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Craig Hallum upgraded Emcore from Hold to Buy and set a new price target of $3.00
Northland Capital downgraded Emcore from Outperform to Market Perform
Lake Street downgraded EMCORE from Buy to Hold and set a new price target of $4.50 from $11.00 previously
Cowen initiated coverage of Emcore with a rating of Outperform and set a new price target of $16.00
Craig Hallum initiated coverage of EMCORE with a rating of Buy and set a new price target of $10.50
Craig Hallum initiated coverage of Emcore with a rating of Buy and set a new price target of $10.50
Craig Hallum initiated coverage of EMCORE with a rating of Buy
Appoints Cletus C. Glasener and Jeffrey J. Roncka to its Board of Directors Appoints Cletus C. Glasener as Chairman of the Board Amends and Reconstitutes Strategy and Alternatives Committee ALHAMBRA, CA, Jan. 11, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR) ("EMCORE" or the "Company"), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced that it has entered into a cooperation agreement (the "Cooperation Agreement") with Bradley L. Radoff and certain of his affiliates ("Radoff"), pursuant to which Cletus C. Glasener and Jeffrey J. Roncka were appointed to the Company's board of directors (the "
BUDD LAKE, NJ, Aug. 06, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2024 third quarter (3Q24) ended June 30, 2024. Management will host a conference call to discuss 3Q24 financial and business results on August 7, 2024 at 8:00 a.m. Eastern Time (ET). "Revenue came in strong at $20.4 million for 3Q24, driven by record high shipments from our Concord site and a solid performance at our Tinley Park operation," said Matt Vargas, interim Chief Executive Officer. "On the expense side, we continue to work through the previously ann
BUDD LAKE, NJ, July 31, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, will announce its fiscal 2024 third-quarter results for the period ended June 30, 2024, on Tuesday, August 6, 2024, after the market close. Conference Call and Webcast Information The Company will host a conference call to discuss the results at 8:00 a.m. (ET) on Wednesday, August 7, 2024. Interim Chief Executive Officer, Matt Vargas, and Chief Financial Officer, Tom Minichiello, will provide an overview of the results, discuss current business conditions, and conduct a question and answer s
BUDD LAKE, NJ, May 08, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2024 second quarter (2Q24) ended March 31, 2024. Management will host a conference call to discuss 2Q24 financial and business results on May 8, 2024 at 5:00 p.m. Eastern Time (ET). "Lower-than-expected revenue in the March quarter was primarily due to product shipment delays and declining revenue from our Budd Lake site. The lower top-line negatively impacted 2Q24 profit margins," said Tom Minichiello, Chief Financial Officer of EMCORE. "With regard to cash
BUDD LAKE, NJ, May 02, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, will announce its fiscal 2024 second-quarter results for the period ended March 31, 2024, on Wednesday, May 8, 2024, after the market close. Conference Call and Webcast Information The Company will host a conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) on Wednesday, May 8, 2024. President & Chief Executive Officer, Jeff Rittichier, and Chief Financial Officer, Tom Minichiello will provide an overview of the results, discuss current business conditions, and conduct a ques
ALHAMBRA, CA, Feb. 08, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2024 first quarter (1Q24) ended December 31, 2023. Management will host a conference call to discuss 1Q24 financial and business results on February 8, 2024 at 5:00 p.m. Eastern Time (ET). For 1Q24, EMCORE's consolidated revenue was $24.1 million. Net loss on continuing operations was $4.4 million and $2.6 million on a GAAP and non-GAAP basis, respectively. Adjusted EBITDA was negative $1.7 million. Please refer to the schedules at the end of this press relea
ALHAMBRA, CA, Jan. 31, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, will announce its fiscal 2024 first-quarter results for the period ended December 31, 2023, on Thursday, February 8, 2024, after the market close. Conference Call and Webcast Information The Company will host a conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) on Thursday, February 8, 2024. President & Chief Executive Officer, Jeff Rittichier, and Chief Financial Officer, Tom Minichiello will provide an overview of the results, discuss current business conditions, and conduct
ALHAMBRA, CA, Dec. 12, 2023 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2023 fourth quarter (4Q23) ended September 30, 2023. Management will host a conference call to discuss 4Q23 financial and business results on December 12, 2023 at 5:00 p.m. Eastern Time (ET). For 4Q23, EMCORE's consolidated revenue was $26.8 million. Net loss was $42.6 million and $2.0 million on a GAAP and non-GAAP basis, respectively. Adjusted EBITDA was negative $0.9 million. Please refer to the schedules at the end of this press release for GAAP to non-GA
ALHAMBRA, CA, Dec. 04, 2023 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, will announce its fiscal 2023 fourth-quarter results for the period ended September 30, 2023, on Tuesday, December 12, 2023, after the market close. Conference Call and Webcast Information The Company will host a conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) on Tuesday, December 12, 2023. President & Chief Executive Officer, Jeff Rittichier, and Chief Financial Officer, Tom Minichiello will provide an overview of the results, discuss current business conditions, and conduc
ALHAMBRA, CA, Sept. 28, 2023 (GLOBE NEWSWIRE) -- (NASDAQ:EMKR) EMCORE Corporation ("EMCORE") announced today that its Board of Directors has approved the adoption of a tax benefits preservation plan ("the plan") in the form of a Section 382 rights agreement designed to protect and preserve the long-term value of certain tax attributes primarily associated with net operating loss carryforwards. EMCORE intends to submit the plan, which is similar to tax benefits preservation plans adopted by many other public companies with significant tax attributes, for shareholder ratification at its 2024 annual meeting of shareholders. As of September 30, 2022, EMCORE had approximately $424.9 million o
ALHAMBRA, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- EMCORE Corporation (NASDAQ:EMKR), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2023 third quarter (3Q23) ended June 30, 2023. Management will host a conference call to discuss 3Q23 financial and business results on August 9, 2023 at 8:00 a.m. Eastern Time (ET). For 3Q23, EMCORE's consolidated revenue was $26.7 million. Aerospace and Defense (A&D) segment revenue of $27.0 million, comprised of $26.7 million for inertial navigation and $0.3 million for defense optoelectronics. Broadband segment revenue was reported as $(0.3) million
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