EMCORE (EMKR) Stock Rating Lowered by B. Riley

EMCORE (NASDAQ:EMKR) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Friday. They currently have a $5.75 price target on the semiconductor company’s stock, down from their previous price target of $6.00. B. Riley’s price objective would indicate a potential upside of 15.00% from the stock’s previous close.

Several other research analysts have also recently issued reports on EMKR. Zacks Investment Research cut shares of EMCORE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 8th. ValuEngine upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. TheStreet cut shares of EMCORE from a “c” rating to a “d+” rating in a report on Thursday, August 2nd. Northland Securities cut shares of EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 price objective for the company. in a report on Friday, August 3rd. Finally, Lake Street Capital set a $6.00 price objective on shares of EMCORE and gave the company a “buy” rating in a report on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.58.

EMCORE stock opened at $5.00 on Friday. The company has a market capitalization of $144.07 million, a PE ratio of 12.82 and a beta of 0.04. EMCORE has a 12-month low of $4.40 and a 12-month high of $8.00.

Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its holdings in EMCORE by 17.0% during the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after buying an additional 9,700 shares in the last quarter. Putnam Investments LLC boosted its holdings in EMCORE by 7.5% during the second quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock worth $1,390,000 after buying an additional 19,300 shares in the last quarter. California Public Employees Retirement System boosted its holdings in EMCORE by 21.0% during the first quarter. California Public Employees Retirement System now owns 129,838 shares of the semiconductor company’s stock worth $740,000 after buying an additional 22,572 shares in the last quarter. GMT Capital Corp bought a new stake in EMCORE during the second quarter worth approximately $138,000. Finally, JPMorgan Chase & Co. boosted its holdings in EMCORE by 32.3% during the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock worth $608,000 after buying an additional 31,218 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

EMCORE Company Profile

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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