Shares of EMCORE Co. (NASDAQ:EMKR) have earned an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.88.
EMKR has been the topic of several recent research reports. Northland Securities cut shares of EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 price objective on the stock. in a research note on Friday, August 3rd. TheStreet cut shares of EMCORE from a “c” rating to a “d+” rating in a report on Thursday, August 2nd. ValuEngine upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research cut shares of EMCORE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 8th. Finally, Lake Street Capital set a $6.00 target price on shares of EMCORE and gave the stock a “buy” rating in a report on Friday, October 5th.
Shares of EMKR opened at $4.68 on Wednesday. The company has a market capitalization of $142.69 million, a PE ratio of 12.00 and a beta of 0.04. EMCORE has a 12-month low of $4.40 and a 12-month high of $8.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. P.A.W. Capital Corp boosted its holdings in shares of EMCORE by 5.3% in the second quarter. P.A.W. Capital Corp now owns 700,000 shares of the semiconductor company’s stock worth $3,535,000 after buying an additional 35,000 shares during the period. Millennium Management LLC acquired a new position in shares of EMCORE in the second quarter worth about $2,134,000. Putnam Investments LLC boosted its holdings in shares of EMCORE by 7.5% during the second quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock worth $1,390,000 after purchasing an additional 19,300 shares during the period. GMT Capital Corp acquired a new stake in shares of EMCORE during the second quarter worth approximately $138,000. Finally, Paloma Partners Management Co acquired a new stake in shares of EMCORE during the second quarter worth approximately $671,000. Institutional investors own 70.51% of the company’s stock.
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.
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