Long Position on EMKR @ $9.75 on 2/14/2017 (Momentum)

EMCORE Corporation (EMKR) designs, manufactures, and sells indium phosphide optical chips, components, subsystems, and systems for the broadband and specialty fiber optics market worldwide.

It offers DFB laser modules and diodes, laser and avalanche chips, optical receivers, and broadband photodiodes for use in telecommunication, cable television, fiber-to-the-premises, defense and homeland security, satellite communication and broadcast, and professional audio/video applications.

The company sells its products through direct sales force, application engineers, third party sales representatives, and distributors. Shares are on the cusp of breaking out of a bullish "flag." The catalyst is the recent earnings report. 

On a per-share basis, the company reported profits of 7 cents per share, excluding charges, EPS was 13 cents, a penny above the estimates. Revenues came in at $30.2M, above the $29M expected. Higher share prices are expected for this stock.

52-Weeks Trading Range: $4.90 - $9.95

Entry Point: $9.75

Stop Loss: $8.75

Target Price: $10.73

Updates

3/8/2017 1:37:32 PM

EMKR closed at $9.10

Position closed on 3/8/2017 at price of $9.10 with a -6.67% loss in 22 days.

Back to Portfolio