EMCORE (NASDAQ:EMKR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR – Get Rating) in a report published on Thursday. The brokerage issued a sell rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on EMKR. Lake Street Capital raised EMCORE from a hold rating to a buy rating and lowered their price target for the stock from $3.50 to $2.50 in a report on Thursday, February 9th. Northland Securities raised EMCORE from a market perform rating to an outperform rating and set a $2.50 price objective on the stock in a research note on Thursday, February 9th.

EMCORE Stock Down 4.4 %

NASDAQ EMKR opened at $1.08 on Thursday. EMCORE has a one year low of $0.86 and a one year high of $3.92. The stock has a 50-day moving average of $1.26 and a 200 day moving average of $1.45. The company has a current ratio of 2.94, a quick ratio of 1.68 and a debt-to-equity ratio of 0.11.

EMCORE (NASDAQ:EMKR – Get Rating) last posted its quarterly earnings data on Tuesday, December 20th. The semiconductor company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). EMCORE had a negative net margin of 35.93% and a negative return on equity of 25.46%. The company had revenue of $25.57 million for the quarter, compared to analysts’ expectations of $25.00 million. As a group, analysts forecast that EMCORE will post -0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in EMCORE by 36.1% during the first quarter. Sei Investments Co. now owns 13,657 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 3,623 shares in the last quarter. Laurion Capital Management LP purchased a new stake in EMCORE during the 2nd quarter worth about $38,000. Walleye Trading LLC purchased a new position in EMCORE during the 1st quarter worth approximately $43,000. XTX Topco Ltd increased its holdings in shares of EMCORE by 34.9% in the 1st quarter. XTX Topco Ltd now owns 13,853 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 3,583 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in EMCORE in the 1st quarter valued at about $53,000. 54.89% of the stock is owned by institutional investors and hedge funds.

EMCORE Company Profile

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EMCORE Corp. engages in the manufacture and provision of mixed-signal optics products. It operates through the Aerospace and Defense segment and Broadband segment. The Aerospace and Defense segment produces navigation and inertial sensing products, and defense optoelectronics. The Broadband segment manufactures community antenna television (CATV) lasers and transmitters, chip devices, and other optical products.