EMCORE (NASDAQ:EMKR)‘s stock had its “buy” rating restated by Lake Street Capital in a research report issued on Wednesday. They currently have a $10.00 target price on the semiconductor company’s stock. Lake Street Capital’s price target points to a potential upside of 64.74% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. B. Riley restated a “neutral” rating and issued a $10.50 target price on shares of EMCORE in a research note on Wednesday, August 9th. Northland Securities restated a “hold” rating and issued a $7.50 target price on shares of EMCORE in a research note on Wednesday. Finally, Zacks Investment Research downgraded EMCORE from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. EMCORE has an average rating of “Hold” and a consensus price target of $9.13.
Shares of EMCORE (NASDAQ:EMKR) traded down $0.18 during mid-day trading on Wednesday, reaching $6.07. The company had a trading volume of 540,300 shares, compared to its average volume of 328,753. The stock has a market cap of $167.99, a price-to-earnings ratio of 16.03 and a beta of 0.45. EMCORE has a one year low of $5.80 and a one year high of $12.20.
In other EMCORE news, CEO Jeffrey Rittichier sold 9,189 shares of the stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.45, for a total transaction of $77,647.05. Following the sale, the chief executive officer now directly owns 288,505 shares of the company’s stock, valued at approximately $2,437,867.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Paradigm Capital Management Inc. NY grew its position in EMCORE by 13.5% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 2,312,800 shares of the semiconductor company’s stock worth $18,965,000 after purchasing an additional 274,700 shares during the period. Vanguard Group Inc. grew its position in shares of EMCORE by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,165,933 shares of the semiconductor company’s stock valued at $12,417,000 after acquiring an additional 58,486 shares during the period. Royce & Associates LP grew its position in shares of EMCORE by 5.0% during the 2nd quarter. Royce & Associates LP now owns 1,133,251 shares of the semiconductor company’s stock valued at $12,069,000 after acquiring an additional 53,453 shares during the period. RK Capital Management LLC grew its position in shares of EMCORE by 7.5% during the 3rd quarter. RK Capital Management LLC now owns 1,115,679 shares of the semiconductor company’s stock valued at $9,149,000 after acquiring an additional 77,741 shares during the period. Finally, Northpointe Capital LLC grew its position in shares of EMCORE by 72.3% during the 3rd quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after acquiring an additional 217,358 shares during the period. 78.34% of the stock is currently owned by institutional investors.
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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