Shares of Emcore Corp. (NASDAQ:EMKR) have received an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $7.83 for the company and are expecting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Emcore Corp. an industry rank of 63 out of 265 based on the ratings given to its competitors.
Separately, B. Riley restated a “buy” rating and set a $7.00 target price on shares of Emcore Corp. in a research report on Tuesday, August 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its position in Emcore Corp. by 94.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,191,684 shares of the company’s stock worth $7,079,000 after buying an additional 579,721 shares during the period. Royce & Associates LP increased its position in Emcore Corp. by 36.1% in the second quarter. Royce & Associates LP now owns 1,054,998 shares of the company’s stock worth $6,267,000 after buying an additional 279,800 shares during the period. potrero capital research llc purchased a new position in Emcore Corp. during the second quarter worth $1,474,000. Emerald Acquisition Ltd. purchased a new position in Emcore Corp. during the second quarter worth $1,067,000. Finally, BlackRock Fund Advisors increased its position in Emcore Corp. by 21.6% in the second quarter. BlackRock Fund Advisors now owns 600,814 shares of the company’s stock worth $3,569,000 after buying an additional 106,729 shares during the period. 61.56% of the stock is currently owned by institutional investors and hedge funds.
Emcore Corp. (NASDAQ:EMKR) opened at 5.70 on Monday. The company has a 50 day moving average price of $5.15 and a 200-day moving average price of $5.53. Emcore Corp. has a 52 week low of $4.90 and a 52 week high of $8.52. The firm has a market capitalization of $148.99 million, a price-to-earnings ratio of 19.45 and a beta of 1.26.
About Emcore Corp.
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
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