Northland Securities Reaffirms Hold Rating for EMCORE (EMKR)

EMCORE (NASDAQ:EMKR)‘s stock had its “hold” rating reiterated by stock analysts at Northland Securities in a research report issued to clients and investors on Wednesday. They currently have a $6.00 target price on the semiconductor company’s stock. Northland Securities’ target price suggests a potential upside of 12.15% from the stock’s current price.

Several other research analysts have also issued reports on the company. Lake Street Capital restated a “buy” rating and set a $10.00 target price on shares of EMCORE in a research report on Wednesday, December 6th. B. Riley dropped their target price on EMCORE from $8.50 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. EMCORE presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Shares of EMCORE (NASDAQ:EMKR) traded down $0.25 during trading hours on Wednesday, hitting $5.35. The company’s stock had a trading volume of 487,143 shares, compared to its average volume of 296,918. EMCORE has a fifty-two week low of $4.90 and a fifty-two week high of $12.20. The stock has a market capitalization of $143.80, a price-to-earnings ratio of 23.26, a PEG ratio of 1.43 and a beta of 0.13.

EMCORE (NASDAQ:EMKR) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03). EMCORE had a net margin of 6.70% and a return on equity of 9.30%. The business had revenue of $24.04 million for the quarter, compared to analysts’ expectations of $24.75 million. During the same quarter last year, the firm earned $0.13 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. equities research analysts predict that EMCORE will post 0.37 earnings per share for the current year.

In other news, CEO Jeffrey Rittichier sold 49,422 shares of EMCORE stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $7.05, for a total transaction of $348,425.10. Following the completion of the sale, the chief executive officer now owns 366,007 shares of the company’s stock, valued at $2,580,349.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.99% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY raised its stake in shares of EMCORE by 9.2% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 2,526,200 shares of the semiconductor company’s stock valued at $16,293,000 after acquiring an additional 213,400 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of EMCORE by 5.3% during the second quarter. Vanguard Group Inc. now owns 1,165,933 shares of the semiconductor company’s stock valued at $12,417,000 after acquiring an additional 58,486 shares in the last quarter. RK Capital Management LLC raised its stake in shares of EMCORE by 7.5% during the third quarter. RK Capital Management LLC now owns 1,115,679 shares of the semiconductor company’s stock valued at $9,149,000 after acquiring an additional 77,741 shares in the last quarter. P.A.W. Capital Corp raised its stake in shares of EMCORE by 112.5% during the fourth quarter. P.A.W. Capital Corp now owns 680,000 shares of the semiconductor company’s stock valued at $4,386,000 after acquiring an additional 360,000 shares in the last quarter. Finally, Northpointe Capital LLC raised its stake in shares of EMCORE by 72.3% during the third quarter. Northpointe Capital LLC now owns 518,004 shares of the semiconductor company’s stock valued at $4,248,000 after acquiring an additional 217,358 shares in the last quarter. 75.41% of the stock is 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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