75,000 Shares in EMCORE Co. (NASDAQ:EMKR) Purchased by Gabelli Funds LLC

Gabelli Funds LLC bought a new stake in EMCORE Co. (NASDAQ:EMKR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 75,000 shares of the semiconductor company’s stock, valued at approximately $225,000. Gabelli Funds LLC owned about 0.83% of EMCORE at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EMKR. Virtu Financial LLC acquired a new position in EMCORE in the fourth quarter valued at about $88,000. Gardner Lewis Asset Management L P purchased a new stake in shares of EMCORE in the 4th quarter valued at approximately $1,758,000. Newbridge Financial Services Group Inc. acquired a new position in shares of EMCORE in the 4th quarter worth approximately $39,000. Renaissance Technologies LLC boosted its position in shares of EMCORE by 6.4% during the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares during the period. Finally, Geode Capital Management LLC increased its holdings in 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 purchasing an additional 11,985 shares during the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.10 on Monday. EMCORE Co. has a 1 year low of $0.78 and a 1 year high of $3.17. The firm has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The stock’s 50-day moving average is $3.10 and its two-hundred day moving average is $2.90.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of EMCORE in a research report on Saturday. They set a “hold” rating on the stock.

About EMCORE

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.