EMCORE (NASDAQ:EMKR)‘s stock had its “hold” rating reiterated by equities research analysts at Northland Securities in a note issued to investors on Wednesday. They presently have a $7.50 price target on the semiconductor company’s stock. Northland Securities’ price target would suggest a potential upside of 23.56% from the company’s previous close.

A number of other equities research analysts have also recently commented on EMKR. B. Riley reissued a “neutral” rating and issued a $10.50 target price on shares of EMCORE in a research note on Wednesday, August 9th. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three 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 $10.06.

Shares of EMCORE (NASDAQ:EMKR) traded down $0.18 during mid-day trading on Wednesday, reaching $6.07. The company had a trading volume of 540,332 shares, compared to its average volume of 328,752. The stock has a market capitalization of $198.91, a PE ratio of 19.47 and a beta of 0.45. EMCORE has a 12 month low of $5.80 and a 12 month high of $12.20.

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

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

Several large investors have recently made changes to their positions in EMKR. Vanguard Group Inc. lifted its holdings in shares of EMCORE by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,107,447 shares of the semiconductor company’s stock valued at $9,967,000 after purchasing an additional 63,020 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of EMCORE by 3.6% during the first quarter. Geode Capital Management LLC now owns 212,423 shares of the semiconductor company’s stock valued at $1,911,000 after purchasing an additional 7,376 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of EMCORE by 47.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 50,590 shares of the semiconductor company’s stock valued at $456,000 after purchasing an additional 16,300 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of EMCORE by 73.7% during the first quarter. Goldman Sachs Group Inc. now owns 39,548 shares of the semiconductor company’s stock valued at $356,000 after purchasing an additional 16,774 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of EMCORE by 2.6% during the second quarter. Rhumbline Advisers now owns 32,677 shares of the semiconductor company’s stock valued at $348,000 after purchasing an additional 825 shares in 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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