EMCORE Corporation (EMKR) Given Average Recommendation of “Hold” by Brokerages

Shares of EMCORE Corporation (NASDAQ:EMKR) have earned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.88.

A number of research analysts recently weighed in on EMKR shares. Northland Securities reissued a “buy” rating and issued a $13.00 target price on shares of EMCORE Corporation in a report on Tuesday, September 12th. Zacks Investment Research lowered shares of EMCORE Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of EMCORE Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, B. Riley reaffirmed a “neutral” rating and set a $10.50 price objective on shares of EMCORE Corporation in a research note on Wednesday, August 9th.

EMCORE Corporation (NASDAQ:EMKR) opened at $7.45 on Tuesday. EMCORE Corporation has a fifty-two week low of $6.10 and a fifty-two week high of $12.20. The firm has a market cap of $200.25, a price-to-earnings ratio of 19.60 and a beta of 0.48.

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In other EMCORE Corporation news, CEO Jeffrey Rittichier sold 9,189 shares of EMCORE Corporation stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $8.45, for a total transaction of $77,647.05. Following the completion of the transaction, the chief executive officer now directly owns 288,505 shares of the company’s stock, valued at $2,437,867.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Unterberg Capital LLC boosted its stake in EMCORE Corporation by 53.8% during the second quarter. Unterberg Capital LLC now owns 240,000 shares of the semiconductor company’s stock worth $2,556,000 after buying an additional 83,986 shares during the period. Argent Capital Management LLC boosted its stake in EMCORE Corporation by 25.7% during the second quarter. Argent Capital Management LLC now owns 454,750 shares of the semiconductor company’s stock worth $4,843,000 after buying an additional 93,100 shares during the period. Northpointe Capital LLC boosted its stake in EMCORE Corporation by 72.3% during the third quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock worth $4,248,000 after buying an additional 217,358 shares during the period. Geode Capital Management LLC boosted its stake in EMCORE Corporation by 3.6% during the first quarter. Geode Capital Management LLC now owns 212,423 shares of the semiconductor company’s stock worth $1,911,000 after buying an additional 7,376 shares during the period. Finally, RK Capital Management LLC boosted its stake in EMCORE Corporation by 40.1% during the second quarter. RK Capital Management LLC now owns 1,037,938 shares of the semiconductor company’s stock worth $11,054,000 after buying an additional 296,840 shares during the period. 77.81% of the stock is owned by institutional investors.

About EMCORE Corporation

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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