EMCORE (NASDAQ:EMKR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a research report sent to investors on Tuesday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

EMCORE Trading Up 1.0%

NASDAQ EMKR opened at $3.10 on Tuesday. The firm has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The firm’s 50 day simple moving average is $3.10 and its 200 day simple moving average is $3.00. EMCORE has a 1 year low of $0.78 and a 1 year high of $3.17.

Institutional Trading of EMCORE

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of EMCORE by 6.4% during the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after acquiring an additional 9,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of EMCORE by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE during the 4th quarter worth approximately $39,000. Virtu Financial LLC acquired a new stake in shares of EMCORE during the 4th quarter worth approximately $88,000. Finally, CSS LLC IL acquired a new stake in shares of EMCORE during the 4th quarter worth approximately $164,000. Institutional investors and hedge funds own 65.66% of the company’s stock.

About EMCORE

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.