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Shares of EMCORE Corp. (NASDAQ: EMKR) jumped to more than 10% gains in today’s trading. EMCORE stock has surged more than 20% in the last five trading days, though there’s no recent news or development relating to the company to trigger the trading activity.
Last month, EMCORE announced that it signed a long-term supply agreement with Space Systems/Loral (SS/L) under which the company will 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 in EMCORE’s history.
EMCORE designs, manufactures and markets a broad portfolio of compound semiconductor-based products for the broadband, fiber optic, satellite and solar power markets, operating through two operating segments: Fiber Optics and Photovoltaics.
The company’s customer base includes large global telecommunications service providers and industry leaders.
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