EMCORE (NASDAQ:EMKR) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of EMCORE (NASDAQ:EMKRFree Report) from a sell rating to a hold rating in a research report released on Wednesday morning.

EMKR has been the subject of a number of other research reports. Northland Capmk downgraded EMCORE from a strong-buy rating to a hold rating in a research report on Thursday, May 9th. Alliance Global Partners restated a neutral rating on shares of EMCORE in a report on Thursday, May 9th.

Check Out Our Latest Report on EMCORE

EMCORE Stock Down 1.3 %

EMKR opened at $0.86 on Wednesday. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $9.50. The company has a market capitalization of $7.12 million, a P/E ratio of -0.10 and a beta of 1.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.27 and a quick ratio of 1.85. The firm’s fifty day moving average price is $1.80 and its two-hundred day moving average price is $29.61.

EMCORE (NASDAQ:EMKRGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.51. EMCORE had a negative return on equity of 27.56% and a negative net margin of 68.57%. The business had revenue of $19.63 million during the quarter, compared to analysts’ expectations of $24.00 million. On average, analysts anticipate that EMCORE will post -0.25 EPS for the current year.

Insider Buying and Selling at EMCORE

In other EMCORE news, major shareholder Archon Capital Management Llc sold 1,255,258 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $1.12, for a total value of $1,405,888.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On EMCORE

Several institutional investors and hedge funds have recently made changes to their positions in EMKR. Archon Capital Management LLC raised its stake in EMCORE by 65.1% in the first quarter. Archon Capital Management LLC now owns 12,552,577 shares of the semiconductor company’s stock valued at $4,331,000 after purchasing an additional 4,951,568 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in shares of EMCORE by 57.0% in the 4th quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 1,284,624 shares during the last quarter. Herald Investment Management Ltd acquired a new stake in shares of EMCORE during the 3rd quarter valued at $950,000. Manatuck Hill Partners LLC bought a new stake in EMCORE during the 3rd quarter worth $904,000. Finally, Kovack Advisors Inc. raised its position in EMCORE by 10.3% in the first quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock valued at $306,000 after purchasing an additional 83,100 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

EMCORE Company Profile

(Get Free Report)

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.

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