EMCORE Co. (NASDAQ:EMKR) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.50.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded EMCORE from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Tuesday, February 12th. ValuEngine upgraded EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Finally, Lake Street Capital set a $6.00 price objective on EMCORE and gave the company a “buy” rating in a research report on Thursday, December 6th.
NASDAQ:EMKR traded down $0.08 during midday trading on Tuesday, reaching $4.07. 249,700 shares of the company traded hands, compared to its average volume of 128,359. EMCORE has a twelve month low of $3.93 and a twelve month high of $6.30. The firm has a market capitalization of $114.69 million, a P/E ratio of -7.68 and a beta of 0.15.
EMCORE (NASDAQ:EMKR) last released its quarterly earnings data on Wednesday, February 6th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.11). EMCORE had a negative return on equity of 15.85% and a negative net margin of 26.77%. The business had revenue of $24.00 million during the quarter, compared to analyst estimates of $24.01 million. As a group, sell-side analysts forecast that EMCORE will post -0.26 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in EMCORE during the 4th quarter valued at approximately $46,000. Brandywine Global Investment Management LLC bought a new stake in EMCORE during the 4th quarter valued at $63,000. Perritt Capital Management Inc. bought a new stake in EMCORE during the 4th quarter valued at $214,000. Prudential Financial Inc. raised its stake in EMCORE by 17.0% during the 3rd quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 9,700 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in EMCORE by 32.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock valued at $608,000 after acquiring an additional 31,218 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.
EMCORE Company Profile
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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