Emcore Corp. (EMKR) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Emcore Corp. (NASDAQ:EMKR) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $6.25 target price on the stock.
According to Zacks, “EMCORE Corporation offers a broad portfolio of compound semiconductor- based products for the broadband, fiber optic, satellite and terrestrial solar power markets. EMCORE’s Fiber Optic segment offers optical components, subsystems and systems for high-speed data and telecommunications networks, cable television and fiber-to-the-premises. EMCORE’s Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high efficiency Gallium Arsenide solar cells, Covered Interconnect Cells and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar power concentrator systems. “
Separately, B. Riley reissued a buy rating and issued a $7.00 target price on shares of Emcore Corp. in a report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $7.81.
Shares of Emcore Corp. (NASDAQ:EMKR) opened at 5.61 on Tuesday. The stock has a 50 day moving average price of $5.18 and a 200-day moving average price of $5.54. Emcore Corp. has a 52 week low of $4.90 and a 52 week high of $8.52. The firm has a market capitalization of $146.63 million, a price-to-earnings ratio of 19.15 and a beta of 0.84.
Several institutional investors have recently modified their holdings of EMKR. Paradigm Capital Management Inc. NY boosted its stake in Emcore Corp. by 94.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,191,684 shares of the company’s stock worth $7,079,000 after buying an additional 579,721 shares in the last quarter. Royce & Associates LP boosted its stake in Emcore Corp. by 36.1% in the second quarter. Royce & Associates LP now owns 1,054,998 shares of the company’s stock worth $6,267,000 after buying an additional 279,800 shares in the last quarter. potrero capital research llc purchased a new stake in Emcore Corp. during the second quarter worth $1,474,000. Emerald Acquisition Ltd. purchased a new stake in Emcore Corp. during the second quarter worth $1,067,000. Finally, BlackRock Fund Advisors boosted its stake in Emcore Corp. by 21.6% in the second quarter. BlackRock Fund Advisors now owns 600,814 shares of the company’s stock worth $3,569,000 after buying an additional 106,729 shares in the last quarter. 61.56% of the stock is owned by institutional investors and hedge funds.
Emcore Corp. Company Profile
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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