Northland Securities set a $5.00 price target on EMCORE (NASDAQ:EMKR) in a research report report published on Friday, TipRanks reports. The firm currently has a buy rating on the semiconductor company’s stock.
A number of other equities analysts have also recently commented on the company. Lake Street Capital set a $5.00 price target on EMCORE and gave the stock a buy rating in a research note on Friday. Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. ValuEngine raised Valmont Industries from a sell rating to a hold rating in a research note on Friday. Finally, B. Riley raised EMCORE from a neutral rating to a buy rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $5.05.
NASDAQ:EMKR opened at $2.99 on Friday. The stock has a 50 day moving average price of $3.40. The company has a market cap of $82.19 million, a P/E ratio of -5.64 and a beta of 0.21. EMCORE has a 1-year low of $2.68 and a 1-year high of $5.54.
EMCORE (NASDAQ:EMKR) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. The company had revenue of $21.75 million during the quarter, compared to the consensus estimate of $22.56 million. EMCORE had a negative return on equity of 16.56% and a negative net margin of 27.99%. As a group, sell-side analysts forecast that EMCORE will post -0.34 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in EMKR. Virtu Financial LLC increased its stake in EMCORE by 40.5% in the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 4,436 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of EMCORE during the fourth quarter valued at approximately $63,000. GMT Capital Corp purchased a new position in shares of EMCORE during the first quarter valued at approximately $100,000. Alambic Investment Management L.P. purchased a new position in shares of EMCORE during the first quarter valued at approximately $104,000. Finally, California Public Employees Retirement System increased its stake in shares of EMCORE by 7.5% during the fourth quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock valued at $645,000 after buying an additional 10,691 shares during the period. 60.34% of the stock is currently owned by institutional investors and hedge funds.
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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