Zacks Investment Research downgraded shares of Emcore Corp. (NASDAQ:EMKR) from a buy rating to a hold rating in a research note released on Wednesday.

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 reiterated a buy rating and set a $7.00 price target on shares of Emcore Corp. in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $7.81.

Shares of Emcore Corp. (NASDAQ:EMKR) traded down 0.35% on Wednesday, reaching $5.66. 8,968 shares of the company’s stock were exchanged. Emcore Corp. has a 12 month low of $4.90 and a 12 month high of $8.52. The company has a market capitalization of $147.94 million, a P/E ratio of 19.32 and a beta of 0.84. The firm’s 50 day moving average price is $5.19 and its 200-day moving average price is $5.55.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its position in Emcore Corp. by 123.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 183,463 shares of the company’s stock valued at $917,000 after buying an additional 101,491 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Emcore Corp. during the second quarter valued at about $289,000. Paradigm Capital Management Inc. NY raised its position 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 valued at $7,079,000 after buying an additional 579,721 shares in the last quarter. Royce & Associates LP raised its position in Emcore Corp. by 23.5% in the first quarter. Royce & Associates LP now owns 775,198 shares of the company’s stock valued at $3,876,000 after buying an additional 147,724 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Emcore Corp. by 13.8% in the first quarter. Geode Capital Management LLC now owns 184,196 shares of the company’s stock valued at $920,000 after buying an additional 22,332 shares in the last quarter. Hedge funds and other institutional investors own 61.56% of the company’s stock.

About Emcore Corp.

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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