EMCORE (NASDAQ:EMKR) received a $6.00 target price from Lake Street Capital in a research note issued on Thursday. The firm presently has a “buy” rating on the semiconductor company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 27.39% from the company’s previous close.

EMKR has been the subject of a number of other reports. B. Riley lowered EMCORE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $6.00 to $5.75 in a report on Friday, November 9th. ValuEngine upgraded EMCORE from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Northland Securities upgraded EMCORE from a “market perform” rating to an “outperform” rating in a report on Friday, October 5th. Finally, Zacks Investment Research lowered EMCORE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.58.

EMKR opened at $4.71 on Thursday. EMCORE has a twelve month low of $4.28 and a twelve month high of $7.25. The company has a market capitalization of $132.79 million, a P/E ratio of -8.89 and a beta of 0.03.

EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Tuesday, December 4th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). EMCORE had a negative return on equity of 12.90% and a negative net margin of 20.39%. The business had revenue of $25.24 million for the quarter, compared to analyst estimates of $24.71 million.

Hedge funds have recently modified their holdings of the company. GMT Capital Corp bought a new stake in shares of EMCORE during the second quarter valued at approximately $138,000. Laurion Capital Management LP bought a new stake in shares of EMCORE during the second quarter valued at approximately $254,000. Prudential Financial Inc. increased its position in shares of EMCORE by 17.0% during the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 9,700 shares during the period. LMR Partners LLP bought a new stake in shares of EMCORE during the second quarter valued at approximately $465,000. Finally, JPMorgan Chase & Co. increased its position in shares of EMCORE by 32.3% during the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock valued at $608,000 after purchasing an additional 31,218 shares during the period. Institutional investors own 64.76% of the company’s stock.

About EMCORE

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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