EMCORE’s (EMKR) Hold Rating Reaffirmed at Northland Securities
Northland Securities restated their hold rating on shares of EMCORE (NASDAQ:EMKR) in a research report sent to investors on Wednesday. The firm currently has a $6.00 target price on the semiconductor company’s stock.
A number of other brokerages also recently commented on EMKR. Lake Street Capital reiterated a buy rating and set a $10.00 price objective on shares of EMCORE in a research report on Wednesday, December 6th. B. Riley cut their price objective on EMCORE from $8.50 to $7.00 and set a neutral rating for the company in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. EMCORE has a consensus rating of Hold and an average price target of $6.67.
Shares of EMCORE (EMKR) opened at $5.20 on Wednesday. EMCORE has a 52-week low of $4.90 and a 52-week high of $12.20. The company has a market capitalization of $136.00, a price-to-earnings ratio of 21.67, a PEG ratio of 1.14 and a beta of 0.14.
In other news, CEO Jeffrey Rittichier sold 49,422 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $7.05, for a total transaction of $348,425.10. Following the completion of the sale, the chief executive officer now owns 366,007 shares in the company, valued at approximately $2,580,349.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Gotham Asset Management LLC acquired a new stake in shares of EMCORE during the 2nd quarter valued at $111,000. Voya Investment Management LLC purchased a new stake in shares of EMCORE in the second quarter valued at $112,000. Highbridge Capital Management LLC lifted its holdings in shares of EMCORE by 130.9% in the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 14,499 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of EMCORE in the fourth quarter valued at $125,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of EMCORE in the third quarter valued at $151,000. Institutional investors own 75.41% of the company’s stock.
TRADEMARK VIOLATION WARNING: “EMCORE’s (EMKR) Hold Rating Reaffirmed at Northland Securities” was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.watchlistnews.com/emcores-emkr-hold-rating-reaffirmed-at-northland-securities/1858002.html.
EMCORE Company Profile
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.