StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Tuesday. The firm set a “hold” rating on the semiconductor company’s stock.

EMCORE Price Performance

EMKR opened at $3.10 on Tuesday. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $4.00. The business has a 50-day moving average of $3.06 and a 200-day moving average of $2.59. The company has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70.

Institutional Investors Weigh In On EMCORE

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of EMCORE in the 4th quarter valued at approximately $39,000. Virtu Financial LLC bought a new position in shares of EMCORE in the 4th quarter valued at approximately $88,000. Gardner Lewis Asset Management L P bought a new position in shares of EMCORE in the 4th quarter valued at approximately $1,758,000. Geode Capital Management LLC raised its stake in shares of EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 11,985 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares in the last quarter. 65.66% of the stock is owned by hedge funds and other institutional investors.

EMCORE Company Profile

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.