EMCORE (NASDAQ:EMKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “EMCORE Corporation offers a broad portfolio of compound semiconductor- based products for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE’s Fiber Optic segment offers optical components, subsystems and systems for high-speed data and telecommunications networks, cable television and fiber-to-the-premises. EMCORE’s Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide solar cells, Covered Interconnect Cells and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar power concentrator systems. “

Separately, B. Riley raised EMCORE from a “neutral” rating to a “buy” rating and set a $5.45 price target for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.30.

Shares of NASDAQ:EMKR traded up $0.06 during midday trading on Tuesday, hitting $4.11. The company had a trading volume of 64,700 shares, compared to its average volume of 146,331. EMCORE has a twelve month low of $3.52 and a twelve month high of $5.65. The stock has a market cap of $112.06 million, a PE ratio of -7.75 and a beta of 0.13.

EMCORE (NASDAQ:EMKR) last posted its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). EMCORE had a negative return on equity of 15.85% and a negative net margin of 26.77%. The firm had revenue of $24.00 million during the quarter, compared to analysts’ expectations of $24.01 million. As a group, sell-side analysts forecast that EMCORE will post -0.3 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in EMCORE during the fourth quarter worth $46,000. Brandywine Global Investment Management LLC acquired a new stake in EMCORE during the fourth quarter worth $63,000. Perritt Capital Management Inc. acquired a new stake in EMCORE during the fourth quarter worth $214,000. Prudential Financial Inc. increased its stake in EMCORE by 17.0% during the third quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 9,700 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in EMCORE by 32.3% during the third quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock worth $608,000 after acquiring an additional 31,218 shares during the last quarter. 62.68% of the stock is owned by institutional investors.


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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