TIAA CREF Investment Management LLC Sells 4,677 Shares of EMCORE Corporation (EMKR)

TIAA CREF Investment Management LLC lessened its position in shares of EMCORE Corporation (NASDAQ:EMKR) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,305 shares of the semiconductor company’s stock after selling 4,677 shares during the period. TIAA CREF Investment Management LLC owned 0.27% of EMCORE Corporation worth $759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMKR. Bank of New York Mellon Corp lifted its position in shares of EMCORE Corporation by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 185,277 shares of the semiconductor company’s stock valued at $1,668,000 after buying an additional 2,404 shares during the last quarter. American International Group Inc. lifted its holdings in 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. Vanguard Group Inc. lifted its holdings in EMCORE Corporation by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,107,447 shares of the semiconductor company’s stock worth $9,967,000 after purchasing an additional 63,020 shares in the last quarter. Geode Capital Management LLC lifted its holdings in EMCORE Corporation by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 212,423 shares of the semiconductor company’s stock worth $1,911,000 after purchasing an additional 7,376 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in EMCORE Corporation by 47.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 50,590 shares of the semiconductor company’s stock worth $456,000 after purchasing an additional 16,300 shares in the last quarter. 77.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EMCORE Corporation (NASDAQ:EMKR) opened at $7.45 on Tuesday. The stock has a market capitalization of $200.25, a PE ratio of 19.60 and a beta of 0.48. EMCORE Corporation has a 1-year low of $6.10 and a 1-year high of $12.20.

A number of brokerages recently issued reports on EMKR. Northland Securities set a $13.00 price objective on EMCORE Corporation and gave the stock a “buy” rating in a report on Monday, October 16th. Zacks Investment Research cut EMCORE Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. B. Riley reissued a “neutral” rating and set a $10.50 price objective on shares of EMCORE Corporation in a report on Wednesday, August 9th. Finally, BidaskClub cut EMCORE Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. EMCORE Corporation currently has a consensus rating of “Hold” and an average price target of $11.88.

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In other EMCORE Corporation news, CEO Jeffrey Rittichier sold 9,189 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.45, for a total value of $77,647.05. Following the sale, the chief executive officer now owns 288,505 shares of the company’s stock, valued at approximately $2,437,867.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.77% of the company’s stock.

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

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