StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued on Wednesday. The firm set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Performance

NASDAQ:EMKR opened at $3.10 on Wednesday. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $3.80. The company has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The stock has a fifty day moving average price of $3.08 and a 200-day moving average price of $2.67.

Hedge Funds Weigh In On EMCORE

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in EMCORE in the fourth quarter valued at approximately $39,000. Virtu Financial LLC acquired a new stake in shares of EMCORE in the 4th quarter valued at $88,000. CSS LLC IL bought a new position in shares of EMCORE in the 4th quarter valued at $164,000. Gabelli Funds LLC acquired a new position in shares of EMCORE during the 4th quarter worth $225,000. Finally, Geode Capital Management LLC grew its position in EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 11,985 shares during the last quarter. 65.66% of the stock is currently owned by institutional investors and hedge funds.

About EMCORE

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.