EMCORE (NASDAQ:EMKR) Stock Price Down 10.3%

EMCORE Co. (NASDAQ:EMKR) was down 10.3% during trading on Friday . The company traded as low as $2.68 and last traded at $2.95, approximately 654,333 shares changed hands during trading. An increase of 354% from the average daily volume of 144,034 shares. The stock had previously closed at $3.29.

EMKR has been the topic of a number of research analyst reports. Northland Securities set a $8.00 target price on vTv Therapeutics and gave the company a “buy” rating in a report on Friday, June 28th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley raised EMCORE from a “neutral” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Lake Street Capital set a $6.00 target price on EMCORE and gave the company a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.55.

The firm has a fifty day moving average of $3.43.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. EMCORE had a negative return on equity of 16.56% and a negative net margin of 27.99%. The company had revenue of $21.75 million for the quarter, compared to analyst estimates of $22.56 million. As a group, equities analysts expect that EMCORE Co. will post -0.34 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of EMCORE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 191,027 shares of the semiconductor company’s stock worth $802,000 after purchasing an additional 2,643 shares in the last quarter. BlackRock Inc. lifted its position in shares of EMCORE by 1.2% during the 4th quarter. BlackRock Inc. now owns 278,001 shares of the semiconductor company’s stock worth $1,168,000 after buying an additional 3,379 shares during the period. Virtu Financial LLC lifted its position in shares of EMCORE by 40.5% during the 1st quarter. Virtu Financial LLC now owns 15,380 shares of the semiconductor company’s stock worth $56,000 after buying an additional 4,436 shares during the period. California Public Employees Retirement System lifted its position in shares of EMCORE by 7.5% during the 4th quarter. California Public Employees Retirement System now owns 153,472 shares of the semiconductor company’s stock worth $645,000 after buying an additional 10,691 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new position in shares of EMCORE during the 4th quarter worth approximately $63,000. 60.34% of the stock is currently owned by institutional investors.

EMCORE Company Profile (NASDAQ:EMKR)

EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in California. It offers broadband products comprising cable television; laser, receiver, and photodetector component products; radio frequency over glass FTTP products; satellite/microwave communications products; and wireless communications products.

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