EMCORE Co. (EMKR) Receives $6.38 Average Price Target from Analysts

Shares of EMCORE Co. (NASDAQ:EMKR) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.38.

EMKR has been the subject of a number of research reports. Zacks Investment Research lowered EMCORE from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. TheStreet lowered EMCORE from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. ValuEngine lowered EMCORE from a “hold” rating to a “sell” rating in a research note on Saturday, April 7th. B. Riley dropped their price target on EMCORE from $6.25 to $5.75 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. Finally, Northland Securities raised EMCORE from a “market perform” rating to an “outperform” rating in a research note on Monday, March 19th.

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Shares of EMCORE stock opened at $4.70 on Friday. EMCORE has a 12 month low of $4.55 and a 12 month high of $12.20. The company has a market cap of $127.84, a P/E ratio of 16.21 and a beta of 0.31.

EMCORE (NASDAQ:EMKR) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $24.75 million. During the same period in the previous year, the company posted $0.13 earnings per share. EMCORE’s quarterly revenue was down 20.3% on a year-over-year basis. equities analysts anticipate that EMCORE will post -0.1 EPS for the current year.

Large investors have recently bought and sold shares of the company. Alambic Investment Management L.P. bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $125,000. JPMorgan Chase & Co. bought a new stake in shares of EMCORE in the 3rd quarter valued at approximately $220,000. Stone Ridge Asset Management LLC bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $175,000. Wells Fargo & Company MN lifted its stake in shares of EMCORE by 56.2% in the 3rd quarter. Wells Fargo & Company MN now owns 29,911 shares of the semiconductor company’s stock valued at $246,000 after purchasing an additional 10,765 shares during the last quarter. Finally, Connors Investor Services Inc. lifted its stake in shares of EMCORE by 47.2% in the 4th quarter. Connors Investor Services Inc. now owns 31,193 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 10,000 shares during the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.

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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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