Emcore Corp. (EMKR) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “EMCORE Corporation offers a broad portfolio of compound semiconductor- based products for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE’s Fiber Optic segment offers optical components, subsystems and systems for high-speed data and telecommunications networks, cable television and fiber-to-the-premises. EMCORE’s Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide solar cells, Covered Interconnect Cells and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar power concentrator systems. “
Separately, B. Riley reaffirmed a buy rating and set a $7.00 price target on shares of Emcore Corp. in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $7.81.
Emcore Corp. (NASDAQ:EMKR) traded down 0.35% on Wednesday, reaching $5.66. The company’s stock had a trading volume of 8,968 shares. The company has a 50-day moving average price of $5.19 and a 200 day moving average price of $5.55. Emcore Corp. has a 12 month low of $4.90 and a 12 month high of $8.52. The company has a market cap of $147.94 million, a P/E ratio of 19.32 and a beta of 0.84.
A number of institutional investors have recently made changes to their positions in EMKR. Engineers Gate Manager LP raised its position in shares of Emcore Corp. by 1.4% in the second quarter. Engineers Gate Manager LP now owns 26,611 shares of the company’s stock valued at $158,000 after buying an additional 368 shares during the period. BlackRock Fund Advisors raised its position in shares of Emcore Corp. by 21.6% in the second quarter. BlackRock Fund Advisors now owns 600,814 shares of the company’s stock valued at $3,569,000 after buying an additional 106,729 shares during the period. BlackRock Investment Management LLC raised its position in shares of Emcore Corp. by 17.7% in the second quarter. BlackRock Investment Management LLC now owns 85,938 shares of the company’s stock valued at $510,000 after buying an additional 12,906 shares during the period. Paradigm Capital Management Inc. NY raised its position in shares of Emcore Corp. by 94.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,191,684 shares of the company’s stock valued at $7,079,000 after buying an additional 579,721 shares during the period. Finally, Royce & Associates LP raised its position in shares of Emcore Corp. by 36.1% in the second quarter. Royce & Associates LP now owns 1,054,998 shares of the company’s stock valued at $6,267,000 after buying an additional 279,800 shares during the period. 61.56% of the stock is owned by institutional investors and hedge funds.
Emcore Corp. Company Profile
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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