EMCORE Corporation (NASDAQ:EMKR) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $11.88.

Several brokerages have recently issued reports on EMKR. B. Riley reiterated a “neutral” rating and set a $10.50 price objective on shares of EMCORE Corporation in a research report on Wednesday, August 9th. Zacks Investment Research downgraded EMCORE Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub downgraded EMCORE Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Northland Securities set a $13.00 price objective on EMCORE Corporation and gave the stock a “buy” rating in a research report on Monday, October 16th.

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In other news, CEO Jeffrey Rittichier sold 9,189 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $8.45, for a total transaction of $77,647.05. Following the completion of the transaction, the chief executive officer now directly owns 288,505 shares in the company, valued at $2,437,867.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.77% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new stake in EMCORE Corporation in the third quarter worth approximately $461,000. Highbridge Capital Management LLC lifted its position in EMCORE Corporation by 130.9% in the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 14,499 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in EMCORE Corporation in the third quarter worth approximately $757,000. Allianz Asset Management GmbH lifted its position in EMCORE Corporation by 9.9% in the third quarter. Allianz Asset Management GmbH now owns 334,053 shares of the semiconductor company’s stock worth $2,739,000 after purchasing an additional 30,219 shares during the period. Finally, Unterberg Capital LLC lifted its position in EMCORE Corporation by 79.2% in the third quarter. Unterberg Capital LLC now owns 430,000 shares of the semiconductor company’s stock worth $3,526,000 after purchasing an additional 190,000 shares during the period. Hedge funds and other institutional investors own 77.81% of the company’s stock.

Shares of EMCORE Corporation (NASDAQ:EMKR) traded down $0.05 during mid-day trading on Tuesday, reaching $7.50. The company’s stock had a trading volume of 108,273 shares, compared to its average volume of 325,380. The firm has a market capitalization of $202.94, a P/E ratio of 19.60 and a beta of 0.48. EMCORE Corporation has a 12 month low of $6.10 and a 12 month high of $12.20.

About EMCORE Corporation

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.

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