StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Stock analysts at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Up 1.0 %

Shares of NASDAQ:EMKR opened at $3.10 on Thursday. The company has a market cap of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. The business has a fifty day simple moving average of $3.08 and a 200-day simple moving average of $2.76. EMCORE has a 52 week low of $0.78 and a 52 week high of $3.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of EMCORE during the 4th quarter valued at $39,000. Virtu Financial LLC acquired a new position in EMCORE in the fourth quarter valued at $88,000. CSS LLC IL acquired a new position in EMCORE in the fourth quarter valued at $164,000. Gabelli Funds LLC acquired a new stake in EMCORE during the fourth quarter worth about $225,000. Finally, Geode Capital Management LLC increased its stake in EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

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.