Two Sigma Investments LP Takes $1.07 Million Position in EMCORE Co. (EMKR)

Two Sigma Investments LP bought a new position in shares of EMCORE Co. (NASDAQ:EMKR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 165,287 shares of the semiconductor company’s stock, valued at approximately $1,066,000.

A number of other hedge funds have also recently added to or reduced their stakes in EMKR. Ariel Investments LLC grew its position in EMCORE by 240.4% during the fourth quarter. Ariel Investments LLC now owns 1,542,419 shares of the semiconductor company’s stock worth $9,949,000 after buying an additional 1,089,359 shares in the last quarter. P.A.W. Capital Corp grew its position in EMCORE by 112.5% during the fourth quarter. P.A.W. Capital Corp now owns 680,000 shares of the semiconductor company’s stock worth $4,386,000 after buying an additional 360,000 shares in the last quarter. Unterberg Capital LLC grew its position in EMCORE by 57.7% during the fourth quarter. Unterberg Capital LLC now owns 678,000 shares of the semiconductor company’s stock worth $4,373,000 after buying an additional 248,000 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in EMCORE by 9.2% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 2,526,200 shares of the semiconductor company’s stock worth $16,293,000 after buying an additional 213,400 shares in the last quarter. Finally, Royce & Associates LP grew its position in EMCORE by 19.0% during the fourth quarter. Royce & Associates LP now owns 1,324,994 shares of the semiconductor company’s stock worth $8,546,000 after buying an additional 211,243 shares in the last quarter. 79.50% of the stock is currently owned by institutional investors and hedge funds.

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NASDAQ EMKR opened at $5.60 on Friday. The company has a market cap of $152.32, a price-to-earnings ratio of 14.36, a P/E/G ratio of 4.67 and a beta of 0.32. EMCORE Co. has a 1-year low of $4.90 and a 1-year high of $12.20.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $24.04 million for the quarter, compared to analyst estimates of $24.75 million. EMCORE had a net margin of 5.48% and a return on equity of 6.59%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. equities research analysts predict that EMCORE Co. will post 0.1 EPS for the current fiscal year.

EMKR has been the topic of a number of recent research reports. Lake Street Capital decreased their target price on EMCORE from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Northland Securities reissued a “hold” rating and set a $6.00 target price on shares of EMCORE in a research report on Wednesday, February 7th. Zacks Investment Research downgraded EMCORE from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. TheStreet downgraded EMCORE from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Finally, ValuEngine downgraded EMCORE from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.67.

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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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Institutional Ownership by Quarter for EMCORE (NASDAQ:EMKR)

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