EMCORE Co. (EMKR) Position Increased by Paradigm Capital Management Inc. NY
Paradigm Capital Management Inc. NY lifted its position in EMCORE Co. (NASDAQ:EMKR) by 9.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,526,200 shares of the semiconductor company’s stock after buying an additional 213,400 shares during the period. EMCORE makes up about 1.4% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 28th largest position. Paradigm Capital Management Inc. NY owned 0.09% of EMCORE worth $16,293,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of EMCORE by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,165,933 shares of the semiconductor company’s stock valued at $12,417,000 after buying an additional 58,486 shares in the last quarter. RK Capital Management LLC increased its position in shares of EMCORE by 7.5% in the 3rd quarter. RK Capital Management LLC now owns 1,115,679 shares of the semiconductor company’s stock valued at $9,149,000 after buying an additional 77,741 shares in the last quarter. P.A.W. Capital Corp increased its position in shares of EMCORE by 112.5% in the 4th quarter. P.A.W. Capital Corp now owns 680,000 shares of the semiconductor company’s stock valued at $4,386,000 after buying an additional 360,000 shares in the last quarter. Northpointe Capital LLC increased its position in shares of EMCORE by 72.3% in the 3rd quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after buying an additional 217,358 shares in the last quarter. Finally, State Street Corp increased its position in shares of EMCORE by 14.0% in the 2nd quarter. State Street Corp now owns 435,683 shares of the semiconductor company’s stock valued at $4,640,000 after buying an additional 53,356 shares in the last quarter. Institutional investors and hedge funds own 75.41% of the company’s stock.
In related news, CEO Jeffrey Rittichier sold 49,422 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $348,425.10. Following the completion of the transaction, the chief executive officer now directly owns 366,007 shares of the company’s stock, valued at approximately $2,580,349.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.99% of the stock is currently owned by corporate insiders.
EMCORE (NASDAQ:EMKR) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.03). The company had revenue of $24.04 million during the quarter, compared to analyst estimates of $24.75 million. EMCORE had a return on equity of 6.59% and a net margin of 5.48%. EMCORE’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. equities research analysts predict that EMCORE Co. will post 0.35 EPS for the current year.
A number of equities analysts recently weighed in on the stock. Northland Securities set a $13.00 target price on shares of EMCORE and gave the stock a “buy” rating in a research note on Monday, October 16th. B. Riley reaffirmed a “neutral” rating and issued a $8.75 target price (down from $10.50) on shares of EMCORE in a research note on Friday, December 1st. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of EMCORE in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.67.
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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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