Emcore Corp. (NASDAQ:EMKR) dropped 6.1% during mid-day trading on Friday . The stock traded as low as $4.90 and last traded at $4.94, with a volume of 434,351 shares trading hands. The stock had previously closed at $5.26.

EMKR has been the topic of several research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $8.50 price target on shares of Emcore Corp. in a research report on Monday, May 9th. Zacks Investment Research downgraded Emcore Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Emcore Corp. presently has a consensus rating of “Hold” and an average price target of $8.19.

The firm has a 50 day moving average price of $6.10 and a 200-day moving average price of $5.63. The stock has a market cap of $128.68 million and a price-to-earnings ratio of 15.26.

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

The business also recently announced a special dividend, which was paid on Friday, July 29th. Investors of record on Monday, July 18th were paid a $1.50 dividend. The ex-dividend date was Monday, August 1st.

A hedge fund recently raised its stake in Emcore Corp. stock. Royce & Associates LLC increased its position in Emcore Corp. (NASDAQ:EMKR) by 81.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 627,474 shares of the company’s stock after buying an additional 281,398 shares during the period. Royce & Associates LLC owned approximately 2.42% of Emcore Corp. worth $3,846,000 at the end of the most recent 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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