EMCORE Corporation (EMKR) Stake Raised by Unterberg Capital LLC
Unterberg Capital LLC increased its stake in EMCORE Corporation (NASDAQ:EMKR) by 53.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 240,000 shares of the semiconductor company’s stock after buying an additional 83,986 shares during the period. EMCORE Corporation comprises approximately 3.3% of Unterberg Capital LLC’s portfolio, making the stock its 17th largest position. Unterberg Capital LLC owned approximately 0.89% of EMCORE Corporation worth $2,556,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Bard Associates Inc. increased its stake in shares of EMCORE Corporation by 2.9% in the first quarter. Bard Associates Inc. now owns 17,500 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 500 shares in the last quarter. Rhumbline Advisers increased its stake in shares of EMCORE Corporation by 2.6% in the second quarter. Rhumbline Advisers now owns 32,677 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 825 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of EMCORE Corporation by 6.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 14,645 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 878 shares in the last quarter. American International Group Inc. increased its stake in shares of EMCORE Corporation by 7.1% in the first quarter. American International Group Inc. now owns 16,093 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 1,063 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in shares of EMCORE Corporation by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 21,533 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.
EMCORE Corporation (NASDAQ EMKR) remained flat at $8.80 during mid-day trading on Tuesday. 2,381 shares of the company’s stock were exchanged. The company has a market capitalization of $236.54 million, a PE ratio of 30.66 and a beta of 0.62. The company’s 50-day moving average is $10.20 and its 200-day moving average is $9.85. EMCORE Corporation has a one year low of $4.93 and a one year high of $12.20.
EMCORE Corporation (NASDAQ:EMKR) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The firm had revenue of $30.95 million during the quarter, compared to the consensus estimate of $30.04 million. EMCORE Corporation had a return on equity of 9.25% and a net margin of 6.73%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts anticipate that EMCORE Corporation will post $0.53 earnings per share for the current year.
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Several analysts have recently weighed in on the stock. B. Riley restated a “buy” rating and set a $12.00 price objective on shares of EMCORE Corporation in a research report on Wednesday, May 10th. BidaskClub upgraded shares of EMCORE Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of EMCORE Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
In other EMCORE Corporation news, CFO Jikun Kim sold 20,504 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $11.25, for a total value of $230,670.00. Following the completion of the transaction, the chief financial officer now directly owns 39,036 shares in the company, valued at $439,155. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by company insiders.
About EMCORE Corporation
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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