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

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Emcore Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. B. Riley restated a “buy” rating and issued a $8.50 price target on shares of Emcore Corp. in a research note on Monday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Emcore Corp. presently has a consensus rating of “Hold” and a consensus target price of $8.56.

The firm has a market capitalization of $164.70 million and a price-to-earnings ratio of 19.54. The firm has a 50-day moving average of $5.79 and a 200-day moving average of $5.59.

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

The company also recently disclosed a special dividend, which will be paid on Friday, July 29th. Stockholders of record on Monday, July 18th will be paid a $1.50 dividend. The ex-dividend date is Monday, August 1st.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in shares of Emcore Corp. by 11.0% in the fourth quarter. Nationwide Fund Advisors now owns 183,406 shares of the company’s stock valued at $1,124,000 after buying an additional 18,135 shares during the last quarter. Royce & Associates LLC boosted 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. Finally, Morgan Stanley boosted 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.

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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