Emcore Corp. (NASDAQ:EMKR) was up 8.1% during mid-day trading on Thursday . The stock traded as high as $6.41 and last traded at $6.16, with a volume of 913,451 shares traded. The stock had previously closed at $5.70.

Several equities research analysts have issued reports on EMKR shares. B. Riley reiterated a “buy” rating and set a $8.50 price objective on shares of Emcore Corp. in a research note on Monday, May 9th. Zacks Investment Research downgraded shares of Emcore Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.56.

The firm’s 50-day moving average is $5.73 and its 200 day moving average is $5.58. The stock has a market capitalization of $161.05 million and a price-to-earnings ratio of 19.10.

Emcore Corp. (NASDAQ:EMKR) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. Analysts anticipate that Emcore Corp. will post $0.17 EPS for the current fiscal year.

Several hedge funds recently bought and sold shares of the company. Nationwide Fund Advisors raised its stake in Emcore Corp. by 11.0% in the fourth quarter. Nationwide Fund Advisors now owns 183,406 shares of the company’s stock worth $1,124,000 after buying an additional 18,135 shares during the period. Numeric Investors LLC raised its position in shares of Emcore Corp. by 761.6% in the fourth quarter. Numeric Investors LLC now owns 839,589 shares of the company’s stock valued at $5,147,000 after buying an additional 742,149 shares during the last quarter. Morgan Stanley raised its position in shares of Emcore Corp. by 3.3% in the fourth quarter. Morgan Stanley now owns 520,420 shares of the company’s stock valued at $3,190,000 after buying an additional 16,799 shares during the last quarter. Finally, Royce & Associates LLC raised its position in shares of Emcore Corp. by 81.3% in the fourth quarter. Royce & Associates LLC now owns 627,474 shares of the company’s stock valued at $3,846,000 after buying an additional 281,398 shares during the last quarter.

EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.

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