eMagin (NYSE:EMA) Stock Gets Price Target Cut from Barclays

eMagin (NYSE:EMA) had its target price reduced by Barclays from $53.00 to $50.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of eMagin from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings cut shares of eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

eMagin Stock Up 0.2%

Shares of EMA stock opened at $47.40 on Monday. The business’s fifty day moving average price is $48.87 and its 200 day moving average price is $51.36. eMagin has a 1-year low of $45.27 and a 1-year high of $55.49.

eMagin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of C$0.74 per share. The ex-dividend date is Friday, October 30th. This is a positive change from eMagin’s previous quarterly dividend of C$0.73. This represents a $2.96 dividend on an annualized basis and a yield of 6.2%.

Institutional Trading of eMagin

Several large investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new stake in shares of eMagin in the 3rd quarter worth about $223,735,000. Cardinal Capital Management Inc. acquired a new stake in eMagin in the 3rd quarter valued at about $10,613,000. The Manufacturers Life Insurance Company increased its holdings in eMagin by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock valued at $65,258,000 after acquiring an additional 71,020 shares in the last quarter. Wellington Management Group LLP purchased a new position in eMagin during the 2nd quarter valued at about $2,926,000. Finally, Greenland Capital Management LP purchased a new position in eMagin during the 2nd quarter valued at about $2,562,000.

eMagin Company Profile

eMagin Corporation was a U.S.-based developer and manufacturer of high-resolution organic light-emitting diode (OLED) microdisplays. Its products were designed for applications requiring compact, lightweight displays with high image quality, including defense, aerospace, medical, industrial, and consumer systems.

The company’s product portfolio included active-matrix OLED microdisplays, display modules, and related display solutions. These technologies were used in applications such as night-vision and thermal-imaging equipment, helmet-mounted and head-up displays, avionics, training systems, and emerging augmented- and virtual-reality devices.

Founded in 1996 and headquartered in Hopewell Junction, New York, eMagin served customers in the United States and international markets, with a significant focus on government and defense programs.