EMCORE (EMKR) Sets New 52-Week Low at $3.65

EMCORE Co. (NASDAQ:EMKR)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $3.65 and last traded at $3.84, with a volume of 4426 shares trading hands. The stock had previously closed at $3.96.

Several research firms have recently weighed in on EMKR. Lake Street Capital set a $6.00 price objective on EMCORE and gave the company a “buy” rating in a research note on Thursday, December 6th. ValuEngine raised EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Finally, Zacks Investment Research raised EMCORE from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Tuesday, February 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $5.38.

The stock has a market capitalization of $107.08 million, a P/E ratio of -7.30 and a beta of 0.15.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). EMCORE had a negative return on equity of 15.85% and a negative net margin of 26.77%. The firm had revenue of $24.00 million for the quarter, compared to analyst estimates of $24.01 million. On average, equities analysts expect that EMCORE Co. will post -0.26 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in EMKR. JPMorgan Chase & Co. raised its position in shares of EMCORE by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock valued at $608,000 after purchasing an additional 31,218 shares in the last quarter. Prudential Financial Inc. raised its position in shares of EMCORE by 17.0% in the 3rd quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 9,700 shares in the last quarter. Bridgeway Capital Management Inc. raised its position in shares of EMCORE by 81.6% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 195,902 shares of the semiconductor company’s stock valued at $931,000 after purchasing an additional 88,000 shares in the last quarter. S Squared Technology LLC raised its position in shares of EMCORE by 22.2% in the 3rd quarter. S Squared Technology LLC now owns 625,145 shares of the semiconductor company’s stock valued at $2,969,000 after purchasing an additional 113,500 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of EMCORE by 9.0% in the 3rd quarter. Renaissance Technologies LLC now owns 658,912 shares of the semiconductor company’s stock valued at $3,130,000 after purchasing an additional 54,200 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

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About EMCORE (NASDAQ:EMKR)

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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