EMCORE Co. (EMKR) Receives $6.00 Average PT from Brokerages

Share on StockTwits

EMCORE Co. (NASDAQ:EMKR) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.88.

Several analysts recently weighed in on the stock. B. Riley downgraded shares of EMCORE from a “buy” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $5.75 in a research report on Friday. TheStreet downgraded shares of EMCORE from a “c” rating to a “d+” rating in a research report on Thursday, August 2nd. Lake Street Capital set a $6.00 price objective on shares of EMCORE and gave the company a “buy” rating in a research report on Friday, October 5th. ValuEngine upgraded shares of EMCORE from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of EMCORE from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th.

Shares of NASDAQ:EMKR opened at $4.68 on Wednesday. The stock has a market capitalization of $142.69 million, a P/E ratio of 12.00 and a beta of 0.04. EMCORE has a fifty-two week low of $4.40 and a fifty-two week high of $8.00.

Large investors have recently modified their holdings of the stock. GMT Capital Corp bought a new stake in EMCORE in the 2nd quarter valued at about $138,000. Laurion Capital Management LP acquired a new position in EMCORE during the 2nd quarter valued at about $254,000. Prudential Financial Inc. increased its stake in EMCORE by 17.0% during the 3rd quarter. Prudential Financial Inc. now owns 66,900 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 9,700 shares during the period. LMR Partners LLP acquired a new position in EMCORE during the 2nd quarter valued at about $465,000. Finally, JPMorgan Chase & Co. increased its stake in EMCORE by 32.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 127,933 shares of the semiconductor company’s stock valued at $608,000 after buying an additional 31,218 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

EMCORE Company Profile

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.

See Also: What are the benefits of a balanced fund?

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.

Leave a Reply