EMCORE (EMKR) Downgraded by ValuEngine

EMCORE (NASDAQ:EMKR) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Lake Street Capital reduced their price target on shares of EMCORE from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. TheStreet lowered shares of EMCORE from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Northland Securities reaffirmed a “hold” rating and set a $6.00 price target on shares of EMCORE in a research report on Wednesday, February 7th. Finally, Zacks Investment Research lowered shares of EMCORE from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.67.

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NASDAQ EMKR opened at $5.60 on Friday. EMCORE has a 52 week low of $4.90 and a 52 week high of $12.20. The stock has a market cap of $153.68, a PE ratio of 14.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.32.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03). EMCORE had a net margin of 5.48% and a return on equity of 6.59%. The business had revenue of $24.04 million for the quarter, compared to analysts’ expectations of $24.75 million. During the same period in the previous year, the company earned $0.13 EPS. EMCORE’s revenue for the quarter was down 20.3% compared to the same quarter last year. sell-side analysts expect that EMCORE will post 0.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in EMKR. Cornerstone Capital Management Holdings LLC. lifted its position in EMCORE by 123.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 206,300 shares of the semiconductor company’s stock worth $1,330,000 after buying an additional 113,800 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of EMCORE during the fourth quarter worth $1,066,000. Two Sigma Advisers LP increased its stake in shares of EMCORE by 5.9% during the fourth quarter. Two Sigma Advisers LP now owns 205,854 shares of the semiconductor company’s stock valued at $1,328,000 after buying an additional 11,500 shares during the period. Stone Ridge Asset Management LLC purchased a new position in shares of EMCORE during the fourth quarter valued at $175,000. Finally, Deutsche Bank AG increased its stake in shares of EMCORE by 98.0% during the fourth quarter. Deutsche Bank AG now owns 225,522 shares of the semiconductor company’s stock valued at $1,453,000 after buying an additional 111,620 shares during the period. 79.50% of the stock is owned by institutional investors and hedge funds.

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About EMCORE

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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