Emcore Corp. (NASDAQ:EMKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “EMCORE Corporation offers a broad portfolio of compound semiconductor- based products for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE’s Fiber Optic segment offers optical components, subsystems and systems for high-speed data and telecommunications networks, cable television and fiber-to-the-premises. EMCORE’s Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide solar cells, Covered Interconnect Cells and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar power concentrator systems. “
Separately, B. Riley reissued a “buy” rating and issued a $7.00 price objective on shares of Emcore Corp. in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.81.
Shares of Emcore Corp. (NASDAQ:EMKR) opened at 5.62 on Wednesday. Emcore Corp. has a 52 week low of $4.90 and a 52 week high of $8.52. The company’s 50 day moving average is $5.21 and its 200-day moving average is $5.55. The company has a market capitalization of $146.90 million, a PE ratio of 19.18 and a beta of 0.84.
Several institutional investors have recently modified their holdings of the stock. Bard Associates Inc. purchased a new position in shares of Emcore Corp. during the second quarter valued at about $101,000. O Shaughnessy Asset Management LLC raised its position in shares of Emcore Corp. by 455.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 17,505 shares of the company’s stock valued at $104,000 after buying an additional 14,351 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Emcore Corp. by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 23,361 shares of the company’s stock valued at $139,000 after buying an additional 328 shares during the period. Engineers Gate Manager LP raised its position in shares of Emcore Corp. by 1.4% in the second quarter. Engineers Gate Manager LP now owns 26,611 shares of the company’s stock valued at $158,000 after buying an additional 368 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Emcore Corp. by 9.5% in the second quarter. Teachers Advisors Inc. now owns 39,447 shares of the company’s stock valued at $234,000 after buying an additional 3,434 shares during the period. 61.56% of the stock is currently owned by institutional investors and hedge funds.
Emcore Corp. Company Profile
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
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