American Century Companies Inc. Acquires New Shares in EMCORE Co. (NASDAQ:EMKR)

American Century Companies Inc. acquired a new stake in EMCORE Co. (NASDAQ:EMKR) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 54,419 shares of the semiconductor company’s stock, valued at approximately $502,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMKR. Schonfeld Strategic Advisors LLC acquired a new position in EMCORE in the 1st quarter worth $58,000. JPMorgan Chase & Co. boosted its stake in EMCORE by 290.3% in the 1st quarter. JPMorgan Chase & Co. now owns 10,955 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 8,148 shares during the period. PDT Partners LLC acquired a new position in EMCORE in the 1st quarter worth $78,000. Caxton Associates LP acquired a new position in EMCORE in the 1st quarter worth $158,000. Finally, Trexquant Investment LP acquired a new position in EMCORE in the 1st quarter worth $167,000. Institutional investors and hedge funds own 75.32% of the company’s stock.

In other EMCORE news, Director Rex S. Jackson sold 17,000 shares of the stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $7.51, for a total value of $127,670.00. Following the transaction, the director now directly owns 90,641 shares of the company’s stock, valued at approximately $680,713.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Rittichier sold 20,000 shares of the stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $7.89, for a total transaction of $157,800.00. Following the completion of the transaction, the chief executive officer now directly owns 384,794 shares in the company, valued at $3,036,024.66. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on EMKR shares. Lake Street Capital upped their target price on shares of EMCORE from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Cowen assumed coverage on shares of EMCORE in a research note on Wednesday, May 26th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Zacks Investment Research downgraded shares of EMCORE from a “buy” rating to a “hold” rating in a research note on Monday, July 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.79.

EMCORE stock opened at $6.80 on Tuesday. The firm has a 50-day moving average of $7.94 and a 200-day moving average of $7.84. EMCORE Co. has a one year low of $3.10 and a one year high of $10.87. The company has a market cap of $250.82 million, a price-to-earnings ratio of 11.72 and a beta of 1.27.

EMCORE (NASDAQ:EMKR) last posted its quarterly earnings data on Wednesday, August 4th. The semiconductor company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.06. EMCORE had a net margin of 14.37% and a return on equity of 16.19%. The company had revenue of $42.66 million during the quarter, compared to the consensus estimate of $41.00 million. Analysts expect that EMCORE Co. will post 0.56 earnings per share for the current year.

EMCORE Company Profile

EMCORE Corp. engages in the manufacture and provision of mixed-signal optics products. It offers catv broadband transport and access; lasers and components; chip level devices; satellite RF fiber optic transport; wireless/distributed antenn systems; microwave components; fiber optics gyros, sensors, and navigation systems.

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Institutional Ownership by Quarter for EMCORE (NASDAQ:EMKR)

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