B. Riley downgraded shares of EMCORE (NASDAQ:EMKR) from a buy rating to a neutral rating in a report issued on Friday, Marketbeat.com reports. They currently have $5.75 price target on the semiconductor company’s stock, down from their prior price target of $6.00.
Other research analysts have also recently issued reports about the company. Lake Street Capital set a $6.00 price target on EMCORE and gave the stock a buy rating in a report on Friday, October 5th. TheStreet cut EMCORE from a c rating to a d+ rating in a report on Thursday, August 2nd. ValuEngine raised EMCORE from a sell rating to a hold rating in a report on Tuesday, August 7th. Northland Securities cut EMCORE from an outperform rating to a market perform rating and set a $5.00 price objective on the stock. in a report on Friday, August 3rd. Finally, Zacks Investment Research cut EMCORE from a hold rating to a strong sell rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $5.58.
NASDAQ EMKR traded down $0.32 during trading hours on Friday, reaching $4.68. The company’s stock had a trading volume of 166,001 shares, compared to its average volume of 115,068. EMCORE has a 1 year low of $4.40 and a 1 year high of $8.00. The stock has a market cap of $142.69 million, a PE ratio of 12.00 and a beta of 0.04.
Several institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. raised its holdings in shares of EMCORE by 17.0% during the 3rd quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 9,700 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of EMCORE by 32.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock worth $608,000 after acquiring an additional 31,218 shares in the last quarter. GMT Capital Corp bought a new position in shares of EMCORE during the 2nd quarter valued at approximately $138,000. Putnam Investments LLC increased its position in shares of EMCORE by 7.5% during the 2nd quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock valued at $1,390,000 after purchasing an additional 19,300 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of EMCORE during the 2nd quarter valued at approximately $2,134,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.
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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