EMCORE (EMKR) Rating Reiterated by Lake Street Capital
EMCORE (NASDAQ:EMKR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Lake Street Capital in a note issued to investors on Wednesday. They currently have a $10.00 price target on the semiconductor company’s stock. Lake Street Capital’s price target indicates a potential upside of 64.74% from the company’s previous close.
Several other analysts have also recently commented on EMKR. B. Riley reiterated a “neutral” rating and issued a $10.50 target price on shares of EMCORE in a report on Wednesday, August 9th. Zacks Investment Research cut EMCORE from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Northland Securities reiterated a “buy” rating and issued a $13.00 target price on shares of EMCORE in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. EMCORE presently has a consensus rating of “Hold” and a consensus target price of $9.13.
EMCORE (NASDAQ:EMKR) traded down $0.18 during trading hours on Wednesday, hitting $6.07. The stock had a trading volume of 540,300 shares, compared to its average volume of 328,753. The company has a market capitalization of $167.99, a PE ratio of 16.03 and a beta of 0.45. EMCORE has a 52 week low of $5.80 and a 52 week high of $12.20.
In related news, CEO Jeffrey Rittichier sold 9,189 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,437,867.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Gotham Asset Management LLC acquired a new position in EMCORE in the second quarter valued at approximately $111,000. Voya Investment Management LLC acquired a new position in EMCORE in the second quarter valued at approximately $112,000. Highbridge Capital Management LLC lifted its stake in EMCORE by 130.9% in the third quarter. Highbridge Capital Management LLC now owns 25,574 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 14,499 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in EMCORE in the third quarter valued at approximately $151,000. Finally, Cavalier Investments LLC acquired a new position in EMCORE in the third quarter valued at approximately $164,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “EMCORE (EMKR) Rating Reiterated by Lake Street Capital” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/12/07/emcore-emkr-rating-reiterated-by-lake-street-capital.html.
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.
Receive News & Ratings for EMCORE Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMCORE Corporation and related companies with MarketBeat.com's FREE daily email newsletter.