StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Research analysts at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Trading Down 1.0 %

Shares of EMKR stock opened at $3.07 on Friday. EMCORE has a 12-month low of $0.78 and a 12-month high of $4.60. The firm’s 50 day moving average is $3.03 and its 200 day moving average is $2.34. The stock has a market capitalization of $27.88 million, a P/E ratio of -1.05 and a beta of 1.70.

Hedge Funds Weigh In On EMCORE

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in shares of EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after buying an additional 9,500 shares in the last quarter. Geode Capital Management LLC boosted its position in EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 11,985 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of EMCORE in the 4th quarter valued at about $39,000. Kovack Advisors Inc. raised its holdings in shares of EMCORE by 29.7% in the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 18,250 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of EMCORE in the 4th quarter valued at about $88,000. 65.66% of the stock is owned by hedge funds and other institutional investors.

About EMCORE

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.