Emcore Corp. (EMKR) Given Consensus Recommendation of “Buy” by Analysts
Shares of Emcore Corp. (NASDAQ:EMKR) have received a consensus rating of “Buy” from the six research firms that are covering the firm. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.17.
Several analysts recently weighed in on EMKR shares. B. Riley reiterated a “buy” rating and issued a $7.00 target price on shares of Emcore Corp. in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Emcore Corp. from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a report on Tuesday, October 4th. Finally, Dougherty & Co started coverage on shares of Emcore Corp. in a report on Thursday, October 20th. They issued a “buy” rating and a $7.50 target price for the company.
Shares of Emcore Corp. (NASDAQ:EMKR) remained flat at $6.80 during mid-day trading on Friday. 94,524 shares of the company’s stock traded hands. Emcore Corp. has a 12-month low of $4.90 and a 12-month high of $8.52. The company has a market cap of $177.74 million, a price-to-earnings ratio of 23.21 and a beta of 0.93. The firm’s 50 day moving average is $6.15 and its 200-day moving average is $5.72.
Institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its position in Emcore Corp. by 86.9% in the third quarter. Paradigm Capital Management Inc. NY now owns 2,227,670 shares of the company’s stock valued at $12,698,000 after buying an additional 1,035,986 shares during the period. Royce & Associates LP increased its position in Emcore Corp. by 36.1% in the second quarter. Royce & Associates LP now owns 1,054,998 shares of the company’s stock valued at $6,267,000 after buying an additional 279,800 shares during the period. potrero capital research llc acquired a new position in Emcore Corp. during the second quarter valued at approximately $1,474,000. Emerald Acquisition Ltd. acquired a new position in Emcore Corp. during the second quarter valued at approximately $1,067,000. Finally, BlackRock Fund Advisors increased its position in Emcore Corp. by 21.6% in the second quarter. BlackRock Fund Advisors now owns 600,814 shares of the company’s stock valued at $3,569,000 after buying an additional 106,729 shares during the period. Institutional investors and hedge funds own 65.35% 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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