Zacks Investment Research lowered shares of EMCORE (NASDAQ:EMKR) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, 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. “

Other equities analysts have also recently issued reports about the stock. Northland Securities set a $8.00 target price on shares of vTv Therapeutics and gave the company a buy rating in a research report on Friday, June 28th. Lake Street Capital set a $6.00 target price on shares of EMCORE and gave the company a buy rating in a research report on Monday, June 10th. Finally, B. Riley upgraded shares of EMCORE from a neutral rating to a buy rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. EMCORE has an average rating of Hold and a consensus target price of $5.55.

Shares of NASDAQ:EMKR traded up $0.03 during midday trading on Wednesday, hitting $3.29. The stock had a trading volume of 62,700 shares, compared to its average volume of 140,161. The stock has a 50-day moving average price of $3.44. The company has a market capitalization of $91.65 million, a P/E ratio of -6.21 and a beta of 0.21. EMCORE has a fifty-two week low of $3.14 and a fifty-two week high of $5.54.

EMCORE (NASDAQ:EMKR) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $22.56 million. EMCORE had a negative net margin of 27.99% and a negative return on equity of 16.56%. As a group, analysts anticipate that EMCORE will post -0.34 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in EMKR. California Public Employees Retirement System grew its holdings in shares of EMCORE by 7.5% during the 4th quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock valued at $645,000 after purchasing an additional 10,691 shares during the last quarter. BlackRock Inc. grew its holdings in shares of EMCORE by 1.2% during the 4th quarter. BlackRock Inc. now owns 278,001 shares of the semiconductor company’s stock valued at $1,168,000 after purchasing an additional 3,379 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of EMCORE by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 989,531 shares of the semiconductor company’s stock valued at $4,156,000 after purchasing an additional 35,659 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of EMCORE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 191,027 shares of the semiconductor company’s stock valued at $802,000 after purchasing an additional 2,643 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of EMCORE during the 4th quarter valued at approximately $63,000. 60.34% of the stock is currently owned by institutional investors.

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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