EMCORE (NASDAQ:EMKR) received a $6.00 price target from stock analysts at Lake Street Capital in a report released on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Lake Street Capital’s target price would indicate a potential upside of 23.71% from the stock’s current price.
EMKR has been the subject of several other research reports. ValuEngine lowered EMCORE from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Northland Securities upgraded EMCORE from a “market perform” rating to an “outperform” rating in a report on Friday, October 5th. Zacks Investment Research lowered EMCORE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 8th. Finally, B. Riley lowered 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 report on Friday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.58.
Shares of NASDAQ:EMKR traded down $0.01 on Thursday, hitting $4.85. The company’s stock had a trading volume of 15,202 shares, compared to its average volume of 80,535. EMCORE has a 12 month low of $4.28 and a 12 month high of $7.25. The stock has a market cap of $133.62 million, a price-to-earnings ratio of -9.15 and a beta of 0.03.
EMCORE (NASDAQ:EMKR) last released its quarterly earnings results on Tuesday, December 4th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). EMCORE had a negative return on equity of 12.62% and a negative net margin of 20.39%. The business had revenue of $25.24 million during the quarter, compared to the consensus estimate of $24.71 million.
Institutional investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of EMCORE in the second quarter valued at $2,134,000. Putnam Investments LLC lifted its holdings in shares of EMCORE by 7.5% during the second quarter. Putnam Investments LLC now owns 275,300 shares of the semiconductor company’s stock valued at $1,390,000 after purchasing an additional 19,300 shares during the last quarter. GMT Capital Corp purchased a new stake in shares of EMCORE during the second quarter valued at $138,000. Ariel Investments LLC lifted its holdings in shares of EMCORE by 15.3% during the second quarter. Ariel Investments LLC now owns 2,290,816 shares of the semiconductor company’s stock valued at $11,569,000 after purchasing an additional 304,256 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of EMCORE during the second quarter valued at $671,000. Institutional investors and hedge funds own 64.76% of the company’s stock.
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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