EMCORE Co. (EMKR) Stake Reduced by Ariel Investments LLC
Ariel Investments LLC reduced its position in EMCORE Co. (NASDAQ:EMKR) by 27.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,242 shares of the semiconductor company’s stock after selling 164,788 shares during the period. Ariel Investments LLC owned approximately 1.67% of EMCORE worth $3,989,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in EMCORE by 33.6% in the fourth quarter. State Street Corp now owns 378,474 shares of the semiconductor company’s stock worth $3,290,000 after buying an additional 95,153 shares during the period. Mesirow Financial Investment Management Equity Management raised its stake in EMCORE by 6.4% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 43,945 shares of the semiconductor company’s stock worth $396,000 after buying an additional 2,645 shares during the period. Systematic Financial Management LP purchased a new stake in EMCORE during the fourth quarter worth $1,868,000. GSA Capital Partners LLP raised its stake in EMCORE by 111.4% in the fourth quarter. GSA Capital Partners LLP now owns 24,521 shares of the semiconductor company’s stock worth $213,000 after buying an additional 12,921 shares during the period. Finally, Oberweis Asset Management Inc. purchased a new stake in EMCORE during the fourth quarter worth $290,000. 66.52% of the stock is currently owned by institutional investors.
EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The company had revenue of $32.60 million during the quarter, compared to the consensus estimate of $30.23 million. EMCORE had a net margin of 9.06% and a return on equity of 3.84%. The company’s revenue was up 51.6% on a year-over-year basis.
A number of equities analysts have recently commented on the stock. Lake Street Capital raised their target price on shares of EMCORE from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Dougherty & Co raised their target price on shares of EMCORE from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. B. Riley reaffirmed a “buy” rating and set a $10.00 target price on shares of EMCORE in a research report on Tuesday, February 7th. Finally, Zacks Investment Research lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $11.38.
In other EMCORE news, CEO Jeffrey Rittichier sold 10,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the chief executive officer now owns 196,185 shares in the company, valued at approximately $1,981,468.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by corporate insiders.
EMCORE 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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