EMCORE Co. (NASDAQ:EMKR) has earned a consensus rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.00.

A number of research firms recently commented on EMKR. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. Lake Street Capital set a $6.00 price target on EMCORE and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Northland Securities restated a “buy” rating and issued a $6.00 price target on shares of EMCORE in a report on Monday, June 10th.

Shares of NASDAQ EMKR traded down $0.03 during mid-day trading on Thursday, hitting $3.38. 1,196 shares of the company were exchanged, compared to its average volume of 120,134. EMCORE has a 1-year low of $3.25 and a 1-year high of $5.54. The business’s 50 day moving average is $3.56. The company has a market capitalization of $94.99 million, a price-to-earnings ratio of -6.42 and a beta of 0.28.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $21.75 million during the quarter, compared to the consensus estimate of $22.56 million. EMCORE had a negative return on equity of 16.56% and a negative net margin of 27.99%. On average, sell-side analysts forecast that EMCORE will post -0.33 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GMT Capital Corp acquired a new stake in shares of EMCORE in the 1st quarter valued at $100,000. Alambic Investment Management L.P. acquired a new stake in shares of EMCORE in the 1st quarter valued at $104,000. Virtu Financial LLC increased its stake in shares of EMCORE by 40.5% in the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 4,436 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of EMCORE in the 4th quarter valued at $63,000. Finally, Geode Capital Management LLC increased its stake in shares of EMCORE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 191,027 shares of the semiconductor company’s stock valued at $802,000 after buying an additional 2,643 shares during the period. Institutional investors own 60.34% of the company’s stock.

EMCORE Company Profile

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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