EMCORE Corporation (EMKR) Position Increased by Highbridge Capital Management LLC
Highbridge Capital Management LLC increased its holdings in shares of EMCORE Corporation (NASDAQ:EMKR) by 130.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,574 shares of the semiconductor company’s stock after acquiring an additional 14,499 shares during the quarter. Highbridge Capital Management LLC owned approximately 0.10% of EMCORE worth $119,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC bought a new stake in EMCORE during the second quarter worth $111,000. Voya Investment Management LLC bought a new stake in EMCORE during the second quarter worth $112,000. Dynamic Technology Lab Private Ltd bought a new stake in EMCORE during the third quarter worth $151,000. Cavalier Investments LLC bought a new stake in EMCORE during the third quarter worth $164,000. Finally, Wells Fargo & Company MN lifted its holdings in EMCORE by 2.5% during the second quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 466 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.
Several brokerages have issued reports on EMKR. Northland Securities restated a “buy” rating and issued a $13.00 target price on shares of EMCORE in a research note on Tuesday, September 12th. B. Riley restated a “neutral” rating and issued a $8.75 target price (down from $10.50) on shares of EMCORE in a research note on Friday, December 1st. Finally, Lake Street Capital restated a “buy” rating and issued a $10.00 target price on shares of EMCORE in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. EMCORE currently has a consensus rating of “Hold” and a consensus target price of $9.13.
Shares of EMCORE Corporation (NASDAQ EMKR) opened at $6.35 on Thursday. The stock has a market capitalization of $174.98, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.45. EMCORE Corporation has a one year low of $5.80 and a one year high of $12.20.
EMCORE (NASDAQ:EMKR) last issued its earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $29.20 million during the quarter, compared to the consensus estimate of $30.29 million. EMCORE had a net margin of 6.70% and a return on equity of 9.30%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. equities analysts forecast that EMCORE Corporation will post 0.37 EPS for the current fiscal year.
EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.
Receive News & Ratings for EMCORE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCORE and related companies with MarketBeat.com's FREE daily email newsletter.