6. Emcore (EMKR) operates in the fiber optics and photovoltaics segments, offering a portfolio of compound semiconductor-based products for the broadband, fiber optics, space and solar-power markets.
For its second quarter ended March 31, 2011, the company recorded revenue of $47.2 million, in line with its guidance range between $46 million and $49 million. During the quarter, the company's cable TV and tunable laser business showed significant improvement. At the end of the quarter, order backlog for the fiber optics segment increased sequentially by $2.9 million, or 14%.
Heading into the third quarter of 2011, the company estimates revenue in the range of $48 million to $50 million, ahead of Reuters analysts' average estimate of $48 million. Revenue from the fiber optics segment is seen increasing by 10% in the third quarter. Furthermore, the company said that since March 31, it has seen strong bookings in both photovoltaics and fiber optics.The company recently entered into a long-term supply agreement with Space Systems/Loral to manufacture and deliver high-efficiency, multi-junction solar cells for Space Systems/Loral's commercial satellite programs. The multi-year contract is the second largest awarded in Emcore's history. Of the 10 analysts covering the stock, 60% recommend it as a buy while 30% rate it a hold. Data from Bloomberg has analysts reporting an average 12-month price target of $4.0, which is 50.9% higher than the stock's current price.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV