EMCORE (NASDAQ:EMKR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a report released on Friday. The brokerage issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.08 on Friday. The stock’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $2.27. EMCORE has a twelve month low of $0.78 and a twelve month high of $4.86. The company has a market capitalization of $27.97 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. bought a new position in EMCORE in the 4th quarter worth approximately $39,000. Kovack Advisors Inc. grew its holdings in shares of EMCORE by 29.7% during the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 18,250 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of EMCORE by 6.4% during the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of EMCORE by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new stake in shares of EMCORE during the 4th quarter worth approximately $225,000. 65.66% of the stock is owned by institutional investors.

About EMCORE

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.