EMCORE Co. (NASDAQ:EMKR) shot up 8% during trading on Monday . The company traded as high as $5.10 and last traded at $5.26. 11,341 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 216,974 shares. The stock had previously closed at $4.87.
A number of research firms have commented on EMKR. Zacks Investment Research upgraded EMCORE from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 4th. ValuEngine upgraded EMCORE from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Lake Street Capital set a $6.00 price objective on EMCORE and gave the company a “buy” rating in a report on Friday. TheStreet downgraded EMCORE from a “c” rating to a “d+” rating in a report on Thursday, August 2nd. Finally, Northland Securities downgraded 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. EMCORE has a consensus rating of “Hold” and an average target price of $5.67.
The firm has a market cap of $130.60 million, a PE ratio of 13.32 and a beta of 0.24.
EMCORE (NASDAQ:EMKR) last posted its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.18). The firm had revenue of $17.72 million during the quarter, compared to analysts’ expectations of $18.02 million. EMCORE had a negative net margin of 10.45% and a negative return on equity of 6.84%. As a group, research analysts expect that EMCORE Co. will post -0.51 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its holdings in EMCORE by 42.3% during the 1st quarter. Prudential Financial Inc. now owns 53,120 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 15,800 shares during the period. Putnam Investments LLC increased its holdings in EMCORE by 7.5% during the 2nd quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock worth $1,390,000 after purchasing an additional 19,300 shares during the period. California Public Employees Retirement System increased its holdings in EMCORE by 21.0% during the 1st quarter. California Public Employees Retirement System now owns 129,838 shares of the semiconductor company’s stock worth $740,000 after purchasing an additional 22,572 shares during the period. GMT Capital Corp purchased a new stake in EMCORE during the 2nd quarter worth about $138,000. Finally, P.A.W. Capital Corp increased its holdings in EMCORE by 5.3% during the 2nd quarter. P.A.W. Capital Corp now owns 700,000 shares of the semiconductor company’s stock worth $3,535,000 after purchasing an additional 35,000 shares during the period. Hedge funds and other institutional investors own 70.61% of the company’s stock.
EMCORE Company Profile (NASDAQ:EMKR)
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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