EMCORE (EMKR) Rating Reiterated by Northland Securities

EMCORE (NASDAQ:EMKR)‘s stock had its “hold” rating reiterated by equities research analysts at Northland Securities in a report released on Wednesday, February 7th. They presently have a $6.00 price objective on the semiconductor company’s stock. Northland Securities’ target price points to a potential upside of 15.38% from the company’s current price.

A number of other analysts have also commented on the company. Lake Street Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of EMCORE in a research report on Wednesday, December 6th. B. Riley decreased their target price 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. EMCORE currently has a consensus rating of “Hold” and an average price target of $6.67.

EMCORE (NASDAQ EMKR) traded up $0.10 during mid-day trading on Wednesday, hitting $5.20. The stock had a trading volume of 308,300 shares, compared to its average volume of 295,907. EMCORE has a 1 year low of $4.90 and a 1 year high of $12.20. The company has a market cap of $138.72, a price-to-earnings ratio of 17.59, a PEG ratio of 2.50 and a beta of 0.14.

EMCORE (NASDAQ:EMKR) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). EMCORE had a net margin of 5.48% and a return on equity of 6.59%. The firm had revenue of $24.04 million during the quarter, compared to the consensus estimate of $24.75 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was down 20.3% on a year-over-year basis. research analysts forecast that EMCORE will post 0.17 earnings per share for the current year.

In related news, CEO Jeffrey Rittichier sold 49,422 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the sale, the chief executive officer now directly owns 366,007 shares of the company’s stock, valued at approximately $2,580,349.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.99% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EMKR. Ariel Investments LLC boosted its stake in EMCORE by 240.4% during the 4th quarter. Ariel Investments LLC now owns 1,542,419 shares of the semiconductor company’s stock valued at $9,949,000 after purchasing an additional 1,089,359 shares during the last quarter. P.A.W. Capital Corp boosted its stake in EMCORE by 112.5% during the 4th quarter. P.A.W. Capital Corp now owns 680,000 shares of the semiconductor company’s stock valued at $4,386,000 after purchasing an additional 360,000 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in EMCORE by 13.5% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 2,312,800 shares of the semiconductor company’s stock valued at $18,965,000 after purchasing an additional 274,700 shares during the last quarter. Unterberg Capital LLC boosted its stake in EMCORE by 57.7% during the 4th quarter. Unterberg Capital LLC now owns 678,000 shares of the semiconductor company’s stock valued at $4,373,000 after purchasing an additional 248,000 shares during the last quarter. Finally, Northpointe Capital LLC boosted its stake in EMCORE by 72.3% during the 3rd quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after purchasing an additional 217,358 shares during the last quarter. Institutional investors and hedge funds own 74.22% of the company’s stock.

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About EMCORE

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.

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