EMCORE (NASDAQ:EMKR) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Price Performance

EMKR opened at $3.13 on Monday. The stock’s 50-day moving average price is $38.63 and its 200 day moving average price is $43.91. EMCORE has a 12-month low of $3.08 and a 12-month high of $11.60. The firm has a market cap of $24.20 million, a price-to-earnings ratio of -0.28 and a beta of 1.52. The company has a current ratio of 3.11, a quick ratio of 1.95 and a debt-to-equity ratio of 0.10.

EMCORE (NASDAQ:EMKR) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10. EMCORE had a negative net margin of 67.43% and a negative return on equity of 26.76%. The company had revenue of $24.12 million for the quarter, compared to analyst estimates of $27.00 million. As a group, sell-side analysts expect that EMCORE will post -1.8 earnings per share for the current year.

Institutional Trading of EMCORE

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in EMCORE by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 2,256,295 shares of the semiconductor company’s stock valued at $1,103,000 after purchasing an additional 269,909 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of EMCORE by 46.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 110,000 shares of the semiconductor company’s stock worth $54,000 after buying an additional 35,000 shares during the period. Penn Capital Management Company LLC raised its holdings in EMCORE by 57.0% in the fourth quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 1,284,624 shares in the last quarter. Northern Trust Corp lifted its stake in EMCORE by 37.8% in the fourth quarter. Northern Trust Corp now owns 117,448 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 32,189 shares during the last quarter. Finally, Manatuck Hill Partners LLC acquired a new position in EMCORE during the 3rd quarter worth approximately $904,000. Hedge funds and other institutional investors own 65.66% of the company’s stock.

EMCORE Company Profile

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.