Granite Point Capital Management L.P. lifted its stake in shares of EMCORE Corporation (NASDAQ:EMKR) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,000 shares of the semiconductor company’s stock after purchasing an additional 4,500 shares during the period. Granite Point Capital Management L.P. owned 0.47% of EMCORE Corporation worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of EMCORE Corporation by 2.5% during the 2nd quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 466 shares in the last quarter. Bard Associates Inc. raised its stake in shares of EMCORE Corporation by 2.9% during the 1st quarter. Bard Associates Inc. now owns 17,500 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 500 shares in the last quarter. Rhumbline Advisers raised its stake in shares of EMCORE Corporation by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 32,677 shares of the semiconductor company’s stock worth $348,000 after purchasing an additional 825 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of EMCORE Corporation by 6.4% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 14,645 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 878 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of EMCORE Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 16,093 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 76.12% of the company’s stock.

Shares of EMCORE Corporation (NASDAQ EMKR) traded down 0.56% during midday trading on Wednesday, hitting $8.90. The stock had a trading volume of 96,608 shares. EMCORE Corporation has a 52 week low of $5.01 and a 52 week high of $12.20. The company’s 50 day moving average is $9.58 and its 200 day moving average is $9.79. The firm has a market cap of $239.22 million, a P/E ratio of 31.01 and a beta of 0.69.

EMCORE Corporation (NASDAQ:EMKR) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. EMCORE Corporation had a return on equity of 9.25% and a net margin of 6.73%. The company had revenue of $30.95 million for the quarter, compared to analyst estimates of $30.04 million. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. On average, equities analysts predict that EMCORE Corporation will post $0.53 earnings per share for the current fiscal year.

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EMKR has been the topic of a number of analyst reports. B. Riley cut EMCORE Corporation from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Thursday, June 29th. Zacks Investment Research cut EMCORE Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded EMCORE Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Northland Securities reiterated a “buy” rating and set a $13.00 price objective on shares of EMCORE Corporation in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. EMCORE Corporation currently has a consensus rating of “Hold” and a consensus target price of $11.40.

In related news, CFO Jikun Kim sold 20,504 shares of EMCORE Corporation stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $11.25, for a total transaction of $230,670.00. Following the sale, the chief financial officer now directly owns 39,036 shares in the company, valued at $439,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.

EMCORE Corporation 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.

Institutional Ownership by Quarter for EMCORE Corporation (NASDAQ:EMKR)

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