EMCORE (NASDAQ:EMKR) was downgraded by research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday.

Other analysts have also recently issued reports about the stock. B. Riley restated a “neutral” rating and set a $10.50 price target on shares of EMCORE in a report on Wednesday, August 9th. Zacks Investment Research cut shares of EMCORE from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. EMCORE presently has a consensus rating of “Hold” and a consensus target price of $11.44.

EMCORE (NASDAQ EMKR) remained flat at $$7.40 during trading hours on Tuesday. 381,500 shares of the stock traded hands, compared to its average volume of 319,453. EMCORE has a fifty-two week low of $6.20 and a fifty-two week high of $12.20. The company has a market cap of $198.91, a P/E ratio of 19.47 and a beta of 0.45.

EMCORE (NASDAQ:EMKR) last announced its earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). EMCORE had a return on equity of 9.25% and a net margin of 6.73%. The firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $30.29 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. equities analysts expect that EMCORE will post 0.4 earnings per share for the current year.

In related news, CEO Jeffrey Rittichier sold 9,189 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $8.45, for a total transaction of $77,647.05. Following the transaction, the chief executive officer now owns 288,505 shares of the company’s stock, valued at $2,437,867.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.77% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EMKR. Wells Fargo & Company MN raised its position in shares of EMCORE by 2.5% in the second quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 466 shares during the period. Rhumbline Advisers grew its stake in shares of EMCORE by 2.6% in the second quarter. Rhumbline Advisers now owns 32,677 shares of the semiconductor company’s stock worth $348,000 after acquiring an additional 825 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of EMCORE by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,061 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 1,914 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of EMCORE by 2.3% in the second quarter. Nationwide Fund Advisors now owns 88,260 shares of the semiconductor company’s stock worth $940,000 after acquiring an additional 2,018 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of EMCORE by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 187,452 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 2,175 shares during the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

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About EMCORE

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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