EMCORE Co. (NASDAQ:EMKR) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.00.

Several research analysts recently issued reports on EMKR shares. Northland Securities lowered EMCORE from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a research report on Friday, August 3rd. Zacks Investment Research lowered EMCORE from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th. ValuEngine raised EMCORE from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, TheStreet lowered EMCORE from a “c” rating to a “d+” rating in a research report on Thursday, August 2nd.

A number of large investors have recently made changes to their positions in EMKR. Cannell Capital LLC bought a new position in EMCORE during the 2nd quarter worth $4,371,000. Millennium Management LLC acquired a new stake in EMCORE during the 2nd quarter worth about $2,134,000. Ariel Investments LLC grew its holdings in EMCORE by 15.3% during the 2nd quarter. Ariel Investments LLC now owns 2,290,816 shares of the semiconductor company’s stock worth $11,569,000 after acquiring an additional 304,256 shares during the period. Mackay Shields LLC acquired a new stake in EMCORE during the 1st quarter worth about $773,000. Finally, Needham Investment Management LLC grew its holdings in EMCORE by 225.0% during the 2nd quarter. Needham Investment Management LLC now owns 195,000 shares of the semiconductor company’s stock worth $985,000 after acquiring an additional 135,000 shares during the period. 70.61% of the stock is owned by institutional investors and hedge funds.

Shares of EMKR traded down $0.05 during trading hours on Tuesday, reaching $4.50. The stock had a trading volume of 140,571 shares, compared to its average volume of 132,421. EMCORE has a 12 month low of $4.40 and a 12 month high of $8.80. The stock has a market capitalization of $126.47 million, a price-to-earnings ratio of 11.54 and a beta of 0.29.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings results on Thursday, August 2nd. The semiconductor company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.18). The firm had revenue of $17.72 million during the quarter, compared to the consensus estimate of $18.02 million. EMCORE had a negative net margin of 10.45% and a negative return on equity of 6.84%. research analysts anticipate that EMCORE will post -0.51 earnings per share for the current fiscal year.

About EMCORE

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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