EMCORE (NASDAQ:EMKR) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Performance

Shares of NASDAQ:EMKR opened at $3.10 on Tuesday. EMCORE has a twelve month low of $0.78 and a twelve month high of $3.17. The firm has a market cap of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. The business has a fifty day moving average of $3.10 and a 200-day moving average of $2.99.

Institutional Trading of EMCORE

A number of hedge funds and other institutional investors have recently made changes to their positions in EMKR. Newbridge Financial Services Group Inc. acquired a new stake in EMCORE in the fourth quarter worth about $39,000. Virtu Financial LLC bought a new position in EMCORE during the 4th quarter worth about $88,000. Gardner Lewis Asset Management L P bought a new stake in EMCORE in the 4th quarter valued at approximately $1,758,000. Geode Capital Management LLC lifted its stake 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 acquiring an additional 11,985 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares in the last quarter. 65.66% of the stock is currently owned by institutional investors and hedge funds.

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.